Why Is AST SpaceMobile Stock (ASTS) Tumbling Today? BlueBird 7 Failure Sends Shares Down 13%
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AST SpaceMobile (ASTS) shares dropped over 13% in pre-market trading due to the BlueBird 7 satellite being placed in an incorrect orbit after its launch. The satellite, unable to reach the correct altitude, will be de-orbited but is insured. The company is producing more satellites, with plans for 45 in orbit by year-end. ASTS has a Hold consensus rating with an average price target of $84.46, indicating a potential downside.
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