Why AST SpaceMobile Stock Just Crashed by More Than 16%
The story around AST SpaceMobile (NASDAQ: ASTS) keeps getting curiouser and curiouser.
In an article published Wednesday, I suggested that after its dramatic spike in share price in recent months, the satellite communications start-up should logically now sell a lot of stock and raise a lot of cash.
Just hours later, AST denied that it had any such intention, saying that it has all the cash it needs to cover "near-term operational initiatives," and has "no plans to raise capital in an underwritten public equity offering through at least the end of 2024."
Source Fool.com
