AST SpaceMobile Hit a 52-Week Low Days After SpaceX Spent $8 Billion on Spectrum. That's Not a Coincidence.
Key PointsAST SpaceMobile’s stock hit a 52-week low after SpaceX’s spectrum purchase.
AST SpaceMobile's stock price reached a 52-week low of $39.02 on October 20, 2023, just 12 days after SpaceX acquired Grain Management's nationwide 800 MHz low-band spectrum portfolio for $8 billion. AST SpaceMobile specializes in low Earth orbit (LEO) satellites for direct-to-cell connections, with AT&T and Verizon being major customers.
The company has launched 13 BlueBird satellites so far, aiming to reach 45 satellites by early 2027 and expand to 248 satellites long-term. AST SpaceMobile collaborates with numerous carriers, targeting over 3 billion wireless subscribers globally. Prior to the acquisition, AST and its clients didn't directly compete with SpaceX, which provides satellite internet and broadband services through Starlink.
However, Starlink's 800 MHz spectrum could enable it to become a fully independent wireless carrier, potentially posing a threat to AT&T and Verizon's plans with AST SpaceMobile. Despite the stock decline, analysts still expect AST SpaceMobile's revenue to grow significantly from $168 million in 2026 to $1.73 billion in 2028.
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