AST SpaceMobile shares fell 10.4% in pre-open trading after a report suggested SpaceX is targeting an IPO valuation of at least $1.8 trillion, below the widely circulated $2 trillion figure.
The lower valuation dampened sector-wide optimism, causing shares of Rocket Lab USA, Redwire, Intuitive Machines, and AST SpaceMobile to decline overnight. ASTS had been a major beneficiary of the SpaceX IPO narrative.
Adding company-specific pressure, an anomaly at Blue Origin resulted in a massive explosion during a hotfire test at Cape Canaveral. This follows the third New Glenn mission failure that destroyed ASTS's BlueBird 7 satellite.
President Scott Wisniewski disclosed a $3.3 million stock sale, selling 25,904 shares at $126.64. He had previously sold $4.45 million worth of shares in March, raising insider selling concerns.
While major U.S. indices are modestly higher in pre-market (S&P 500 +0.6%, Dow +0.1%, NASDAQ +0.9%), ASTS's decline is sector and stock-specific.
Short interest in AST SpaceMobile has risen to 53.99 million shares (18.14% of float), amplifying downside risk. The RSI had been elevated, indicating overbought conditions.
Management reaffirmed fiscal 2026 revenue guidance of $150-200 million. However, the unwinding of speculative momentum is the dominant force today.
