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Jessica Mitacek

AST SpaceMobile’s New Securities Lawsuit Adds Fuel to an Already Volatile Stock

AST SpaceMobile Lawsuit ASTS United States

Midland, Texas-based AST SpaceMobile (NASDAQ: ASTS) is facing a new headwind, compounding investors’ concerns over potential share dilution, stiff competition from SpaceX (NASDAQ: SPCX), and ongoing volatility that continues to contribute to elevated short interest.

A securities fraud class-action lawsuit has been filed on behalf of investors against the direct-to-cellular (D2C) space-based cellular broadband network provider.

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