AST SpaceMobile Falls 7%, as SpaceX Wins Direct-to-Phone FCC Approval

AST SpaceMobile shares fell about 7% to $56.40 in afternoon trading. The decline followed FCC authorization for a SpaceX satellite constellation that can connect directly to phones without a wireless carrier, threatening AST SpaceMobile’s carrier-dependent business model.

Multiple law firms also announced the filing of a securities class-action lawsuit against AST SpaceMobile. The lawsuit alleges the company made misleading statements about its capital needs and liquidity position between March 2025 and July 2026.

The developments overshadowed positive news, including U.S.-Japan backing for AST SpaceMobile’s partnership with Rakuten.