Shares of AST SpaceMobile (NASDAQ: ASTS) are down over 80% from their peak. Over the past year, the stock has lost around 50% of its value. This is a high-risk investment, but with a sub-$3 share price, some investors might be interested in bottom-fishing. Is it worth it?

At this point in time, AST SpaceMobile doesn't really do anything from a business perspective. That may sound harsh, but in 2023 the company generated no revenue. But it managed to spend $78.8 million on engineering services, $47.5 million on research and development, and $41.6 million on general and administrative expenses. Needless to say, the red ink flowed liberally in 2023, with the company posting a per-share loss of $1.07.

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Source Fool.com