Why AST SpaceMobile Stock Crashed 11.5% Today

Shares of recent initial public offering (IPO) and space company AST SpaceMobile (NASDAQ: ASTS) stock slumped on Monday, and are down 11.5% as of 12:20 p.m. ET.

The company announced today that its launch of a prototype BlueWalker 3 communications satellite, designed to prove the concept of enabling ordinary cellphones to communicate directly with one another via satellite, has been delayed.

Image source: Getty Images.

Continue reading

Source Fool.com