AST SpaceMobile Stock Falls 12% As SpaceX Agrees To Buy Spectrum AST Also Wanted
Roth Capital says SpaceX's reported $8 billion spectrum deal raises competition for AST, though it could also pull AST closer to carriers.
AST SpaceMobile shares fell 12.49% to $49.82 in Friday trading, as of 3:14 p.m. ET, after SpaceX agreed to buy a nationwide spectrum portfolio the company had also pursued. The drop erased $2.1 billion in market value, leaving AST at about $14.94 billion.
What SpaceX is buying
SpaceX agreed to buy Grain Management's nationwide 800 MHz spectrum portfolio, a frequency block AST had also pursued. The deal still needs FCC approval. The price was reported at $8 billion.
Spectrum, the airwaves that carry the signal, is central to AST's model: it wants to beam broadband from its own satellites straight to ordinary phones. Access to it shapes its competitive position.
Other space stocks moved less just after the announcement. Rocket Lab fell 1% to $67.52 and Planet Labs dropped 2% to $16.81, while the Procure Space ETF rose 0.18% to $42.08, according to the report.
What it changes for AST
Roth Capital said the purchase raises competition for terrestrial carriers and device-to-device rivals, including AST and Amazon Leo. The firm also argued it should push AST closer to Verizon, AT&T and T-Mobile.
AST holds agreements with Ligado Networks for lower mid-band spectrum in the United States and Canada. Those are separate from SpaceX's Grain deal. Roger Entner of Recon Analytics said of the next target, "Ligado is next."
The stock was already down about 22% year-to-date at Thursday's close, before Friday's move. The S&P 500 was up about 14% over the same span. A securities class action against AST, with a lead-plaintiff deadline of November 13, adds legal pressure.
What to watch
The FCC's review of the SpaceX-Grain Management deal is the next step. Whether Ligado's spectrum becomes the next target, as Entner suggested, is the other open question.
The next dated item is the November 13 lead-plaintiff deadline in the class action against AST.
Sources
- ASTS stock news: ASTS stock today falls 14%: Why AST SpaceMobile shares are down after SpaceX Spectrum Deal - The Economic Times — economictimes.indiatimes.com
- AST SpaceMobile (ASTS) Could Be 67% Undervalued On TELUS Integration Progress — Yahoo Finance
- ASTS Stock Eyes Green Week: Retail Sees ‘Major Catalysts’ For New Highs As Bezos Targets Blue Origin’s December Return — Yahoo Finance
- AST SpaceMobile, Inc. (ASTS) Declines More Than Market: Some Information for Investors — Yahoo Finance
- ASTS Shareholder Alert: AST SpaceMobile, Inc. Securities Class Action Lawsuit - Investors With Losses May Contact SueWallSt — prnewswire.com
- AST SpaceMobile, Inc. Class Action Lawsuit Seeks Recovery for Investors; November 13, 2026, Deadline - Contact Kessler Topaz Meltzer & Check, LLP — GlobeNewswire Inc.
