From Nasdaq:

AST SpaceMobile’s stock is experiencing a frustrating failure to launch. Some giant companies are reportedly prepared to invest, but a potential stock offering might be a bad sign. The company operates a space-based cellular broadband network for mobile phones, with investors like Vodafone, AT&T, and Alphabet providing new financing of up to $206.5 million.

The announcement of strategic investments from the likes of AT&T and Alphabet should prompt an all-day ASTS stock rally, but it was overshadowed by AST SpaceMobile’s disclosure of a $100 million common stock offering. The stock dove 25.7% due to this, along with the company’s lack of positive earnings and failure to report any revenue in 2023’s third quarter.

On TipRanks, ASTS comes in as a Moderate Buy with an average price target of $23. While several notable names are willing to invest capital in AST SpaceMobile, its financial situation and recent share sale prompt caution. It’s encouraging, but not enough to consider a share position in ASTS stock right now, so staying on the sidelines and awaiting further developments is the advised decision.



Read more: AST SpaceMobile Stock (NASDAQ:ASTS): Nothing Here but a Failure to Launch