AST SpaceMobile: Intermittent Service Isn't Enough
Update - Sept. 9 AST SpaceMobile appears headed back down to $25. The UBS downgrade following the Starlink purchase of Echostar spectrum is the final straw. Shares of AST SpaceMobile slipped nearly 8% during early trading hours on Tuesday as UBS downgraded the company to Neutral from Buy, mainly due to increasing competitive concerns. UBS said ASTS Will be a leader in the emerging space-to-cellular broadband market on the back of its technology, carrier relationships and ability to link unmodified devices using multiple spectrum bands. The brokerage firm also lowered its price target to $43 from a previous price target of $62. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More » Original article posted on Aug. 13 AST SpaceMobile continues to miss satellite launch targets, delaying commercial service and raising doubts about execution. Competitive threats from Starlink an...