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The Economic Times
The Economic Times
National
Shreya Biswas

ASTS stock today falls 14%: Why AST SpaceMobile shares are down after SpaceX Spectrum Deal

AST SpaceMobile ASTS SpaceX Grain Management Planet Labs Rocket Lab ETF IRS

ASTS stock : AST SpaceMobile shares fell more than 14% in Friday morning trading after SpaceX agreed to acquire a nationwide low-band spectrum portfolio that AST SpaceMobile had also pursued. Rocket Lab and Planet Labs shares also declined, while the Procure Space ETF edged higher.

Just after the announcement, ASTS traded at $53.67, down 6%. Rocket Lab (RKLB) fell 1% to $67.52, Planet Labs (PL) dropped 2% to $16.81 but Procure Space ETF (UFO) rose 0.18% to $42.08.

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