AST SpaceMobile Shares Plunge 11% as Investors Rotate to SpaceX’s $135 IPO
ASTS•AST SpaceMobile shares tumbled 11% on June 12 as investors sold smaller space stocks to free up funds for SpaceX’s IPO at $135 per share after a 61% rally. The pullback echoed declines at Rocket Lab and Redwire, highlighting a sector rotation toward SpaceX.
1. Sector Sell-Off Driven by SpaceX IPO
On June 12, AST SpaceMobile shares slid 11% as the long-awaited SpaceX IPO at $135 per share drew capital away from smaller space-linked equities. Investors shifted funds from Rocket Lab, Redwire and AST SpaceMobile into SpaceX, triggering a broad pullback across the sector.
2. AST SpaceMobile Pre-IPO Surge and Profit-Taking
Prior to the IPO, AST SpaceMobile had surged roughly 61% as traders speculated on a sector uplift. Profit-taking intensified when SpaceX shares began trading, prompting holders of AST SpaceMobile stock to liquidate positions to secure gains.
3. Broader Space Stock Pullback
Along with AST SpaceMobile’s decline, Rocket Lab fell as much as 10%, Redwire dropped 11%, Firefly Aerospace slid 14%, Intuitive Machines declined 12% and Virgin Galactic plunged 27%. The Procure Space ETF lost 6% and a Bank of America space-stock basket fell 5%, underscoring the rapid sector rotation.
