Why AST SpaceMobile Stock Was Sliding Today
Shares of AST SpaceMobile (NASDAQ: ASTS) were moving lower today as the maker of broadband-enabling satellites faced new deep-pocketed competition. Blue Origin, Jeff Bezos's space company, announced its own satellite communications network called TeraWave. Both AST SpaceMobile and rival EchoStar fell on the news.
As of 2:25 p.m. ET, the stock was down 13.4%.
Image source: Getty Images.
Source Fool.com