Reported 1 day ago
AST SpaceMobile, which aims to provide direct-to-device satellite internet, has seen its stock prices soar but recently dropped 30% due to concerns over upcoming competition from SpaceX. The company is pushing to launch a constellation of satellites for internet services by 2026, but their substantial cash burn and current lack of revenue raise questions about its valuation. Despite potential market opportunities through partnerships with telecom giants, AST SpaceMobile's future remains uncertain as it competes against established players like SpaceX.
Source: YAHOO