We recently published 10 Stocks Facing Selling Pressure Ahead of Christmas. AST SpaceMobile (NASDAQ:ASTS) is one of the biggest losers on Monday.
AST SpaceMobile snapped a two-day rally on Monday, shedding 11.6 percent to close at $67.81 apiece as investors soured on the delay of its next-generation satellite launch.
Supposedly set for December 15 at the Satish Dhawan Space Center in India, AST SpaceMobile (NASDAQ:ASTS) said that BlueBird 6 takeoff has been pushed back to Sunday, December 21.
Investors took the news negatively on concerns about potential execution risks and the impact of further setbacks on the company’s commercialization plans and near-term revenue visibility.
According to AST SpaceMobile (NASDAQ:ASTS), the BlueBird 6 would feature the largest commercial phased array in low Earth orbit at nearly 2,400 square feet, representing a 3.5 times increase in size over the first to fifth generations, and supports 10 times the data capacity. It is targeted to enable ubiquitous cellular broadband coverage directly to everyday smartphones from space.
In line with the launch, AST SpaceMobile Inc. (NASDAQ:ASTS) said that it would also expand its manufacturing sites in Texas and Florida in a bid to ramp up the production of BlueBird 6.
Apart from the BlueBird 6 launch, the company said that it targets to make five launches beginning in December until March 2026.
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Disclosure: None. This article is originally published at Insider Monkey.
