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A multi-billion-dollar spectrum grab by Elon Musks SpaceX has triggered a sharp selloff in AST SpaceMobile shares, shutting the company out of valuable low-band cellular airwaves. Here is what investors need to know.
SpaceX acquired low-band spectrum licenses, intensifying competitive threats against AST SpaceMobile.AST SpaceMobile faces substantial capital expenditures, ongoing cash burn, and shareholder litigation.The stock technical indicators show a sell signal with a MACD value of -1.244.
Chip and AI hardware plays bounce somewhat after tumbling Thursday.