AST SpaceMobile shares fell as much as 16% on October 9, 2026. The stock hit a one-year low after SpaceX announced its acquisition of a nationwide portfolio of 800MHz low-band spectrum.
AST SpaceMobile had also been pursuing those frequencies to expand its direct-to-device satellite network. SpaceX’s move escalated competition and could enable the company to build an independent mobile carrier business, challenging AST SpaceMobile’s model of partnering with existing carriers.
The news heightened investor concerns about AST SpaceMobile’s future revenue, market share and potential need for more capital to compete.