🔴 AST SpaceMobile is trading 5.9% down today after FCC authorizes SpaceX’s direct-to-phone satellite network

AST SpaceMobile is trading 5.94% down at $53.55 after the FCC authorized SpaceX to build a direct-to-phone satellite network using its own spectrum, raising competitive concerns for AST SpaceMobile’s carrier-dependent model.

• The FCC’s October 29 agenda drew investor attention; Clear Street called it mixed for AST SpaceMobile. Its items are proposals, not adopted rules.
• Major indices were modestly higher, so broad-market weakness does not appear to explain the drop.