AST SpaceMobile shares fell approximately 6% in morning trading on October 9, 2026, to $53.67. The decline followed reports that SpaceX is acquiring a nationwide portfolio of low-band spectrum from Grain Management. AST SpaceMobile had also pursued these frequencies to expand capacity for its direct-to-device satellite services, fueling concerns about competitive pressure in the space-based mobile connectivity market.
The news came amid other challenges for AST SpaceMobile, including a recent downgrade by B. Riley and satellite launch delays.
Separately, AST SpaceMobile announced a partnership with Rakuten to develop and deploy low-Earth-orbit (LEO) satellite infrastructure for mobile connectivity. The collaboration was highlighted in a U.S.-Japan tech cooperation statement.