AST SpaceMobile Plunges 10.5% to $88.57 After Amazon’s $11.6B Globalstar Deal
AST SpaceMobile shares plunged 10.51% to close at $88.57 after Amazon revealed an $11.6 billion takeover of rival Globalstar. The sector acquisition overshadowed ASTS’s record Q4 revenue and recent breakthrough above its 50- and 200-day moving averages.
1. Stock Slide on Amazon’s Globalstar Acquisition
On April 14, AST SpaceMobile shares fell 10.51%, closing at $88.57 after Amazon announced an $11.6 billion deal to acquire Globalstar. Investors reacted to the expanded LEO satellite footprint Amazon gains, sending ASTS sharply lower despite broader market gains.
2. Q4 Milestones and Technical Breakthrough
AST SpaceMobile delivered record Q4 revenue that propelled its shares above both the 50-day and 200-day moving averages for the first time in early April. Those technical gains underscored progress in its BlueBird satellite deployments and commercial service rollout.
3. Competitive Landscape and Outlook
Amazon’s entry into the LEO sector intensifies competition against ASTS’s planned constellation, potentially slowing new customer wins. AST SpaceMobile must leverage its recent operational strides and cost controls to maintain momentum against deep‐pocketed rivals.