AST SpaceMobile (NASDAQ: ASTS), the provider of a space-based cellular broadband network accessible directly by standard smartphones, closed Friday at $82.41, down 15.53% on the session.
The sharp decline was driven by a broad “space-stock shakeout,” as investors rotated out of existing space-sector holdings following the highly anticipated debut of SpaceX on public markets.
AST SpaceMobile is considered one of the most competitively exposed companies to SpaceX, whose Starlink business operates its own in-house satellite launch platform and is developing direct-to-smartphone internet services.
The selloff was compounded by profit-taking, as ASTS shares had surged approximately 125% over the prior year, leaving many investors sitting on substantial gains ahead of a major new competitor entering the market.
Despite the strong run-up in its stock price, AST SpaceMobile still faces a long road of capital expenditure and satellite deployment before it can realistically achieve profitability.
With SpaceX now trading publicly, investors appear to be reallocating capital away from ASTS and into the newly listed launch and connectivity giant.
Trading volume in ASTS reached 54.3 million shares on Friday, roughly 172% above its three-month average of approximately 20 million shares, underscoring the intensity of selling pressure.
Investors are also monitoring next week’s scheduled BlueBird 8-10 Falcon 9 launch and developments surrounding the company’s newly issued FCC license, both of which are seen as critical near-term milestones.
AST SpaceMobile first went public in 2019 and, despite Friday’s steep losses, has still risen an impressive 744% since its market debut.
The broader market fared considerably better on the day, with the S&P 500 rising 0.50% to close at 7,431.46 and the Nasdaq Composite adding 0.31% to finish at 25,889.
Peer pressure was also felt across satellite communications stocks, with Iridium Communications (NASDAQ: IRDM) closing at $47.32, down 5.19% on the session.
The dual headwinds of profit-taking and fresh competitive pressure from a newly public SpaceX signal that AST SpaceMobile investors face a more complex and contested landscape heading into the second half of 2026.
