Shares of AST SpaceMobile (NASDAQ: ASTS) snapped a two-day losing streak on Monday, climbing 0.2% after declining more than 4% across the previous two sessions.
The modest rebound came as the Federal Communications Commission continued its review of Ligado Networks’ application to operate L-band broadband payloads aboard 96 satellites in AST’s constellation.
Ligado filed the request in December, and the FCC accepted it for filing on January 30, 2026, with records still listing the application as “Pending Review” and no grant date disclosed.
The proposed network, called SkyTerra Next, would modify Ligado’s existing SkyTerra-1 license to add a low-Earth-orbit Mobile Satellite Service capable of delivering broadband to existing, unmodified mobile devices.
Under the technical framework, Ligado-controlled L-band payloads would operate aboard 96 AST satellites at an altitude of roughly 690 kilometers, with steerable beams and variable power controls designed to mitigate interference.
AST would provide the satellites and supporting infrastructure, with the company stating in a December letter that the partnership would deliver space-based broadband to U.S. subscribers through their “existing, unmodified mobile devices.”
FCC approval could give AST a dedicated satellite-spectrum layer alongside the terrestrial frequencies supplied by partners including AT&T, Verizon, and FirstNet, strengthening the company’s competitive position in the direct-to-device market.
Ligado also asked the FCC to waive rules that typically place new non-geostationary systems into processing rounds with competing applicants, arguing that SkyTerra Next would use previously coordinated L-band spectrum rather than seek new frequencies.
Opponents raised concerns after the FCC opened the application to public comment in January, citing potential interference with GPS, aviation, weather, and satellite communications systems, and questioning whether the proposal effectively transferred license control to AST.
Ligado and AST rejected those claims, and following additional technical questions submitted in May, Ligado responded with analyses conducted alongside AST and outside consultants showing the system would operate within existing authorizations without causing harmful interference.
The underlying commercial agreement grants AST more than 80 years of usage rights to as much as 45 MHz of spectrum, including up to 40 MHz of Ligado’s L-band holdings, with a $550 million payment from AST due upon regulatory closing.
The deal also includes minimum annual L-band payments of approximately $80 million, and a bankruptcy court approved the arrangement in June last year before confirming Ligado’s reorganization plan in September 2025.
On Stocktwits, retail sentiment for ASTS slipped to “bearish” from “bullish” levels a day prior, accompanied by a 368% surge in 24-hour message volumes, reflecting growing impatience over the pending regulatory outcome.
One user expressed frustration, writing, “$ASTS price action is evident that it cannot break thru without catalyst news. Release the PRs dammit!!” while another struck a more optimistic tone, saying, “$ASTS Today was merely a test of patience. Great rewards will be bestowed upon the faithful.”
Despite the near-term uncertainty, ASTS stock has risen 48% over the past year, reflecting sustained investor interest in the company’s long-term satellite broadband ambitions.
