Stock Market Today, Oct. 9: AST SpaceMobile Slides on SpaceX Spectrum Move
On Oct. 9, 2026, satellite broadband rival SpaceX's spectrum license acquisition comes after it also recently won FCC approval for a 15,000-satellite network.
On October 9, AST SpaceMobile's stock slid as investors weighed the impact of SpaceX's spectrum move. The satellite-based mobile broadband network's shares closed at $50.97, down 10.48%. Trading volume surged to 53.8 million shares, more than three times its three-month average of 12.9 million shares. The company's IPO in 2019 has resulted in a 422% increase since going public.
Meanwhile, the S&P 500 and Nasdaq Composite both experienced modest gains. Peer companies Iridium Communications and Space Exploration Technologies also saw stock price fluctuations, providing context for AST SpaceMobile's decline. The move highlights concerns among investors about AST SpaceMobile's ability to keep pace with SpaceX's ambitious growth and expansion goals in the satellite broadband sector.
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