Starlink Rival AST SpaceMobile Gets Rare Sell Amid 254% Run
AST SpaceMobile, a company aiming to provide space-based cell phone connectivity, has seen its stock price surge by 254% so far this year. This rise comes as the competition for this market heats up, with Elon Musk's SpaceX division, Starlink, also vying for a share. However, a Scotiabank analyst has issued a rare "sell" recommendation on AST SpaceMobile, citing the potential for "painful corrections" as the company faces intense competition from Starlink. The analyst believes that AST's current valuation may not be sustainable in the face of this rivalry. The article highlights the rapidly evolving landscape of the space-based cell phone connectivity market, with both AST SpaceMobile and Starlink racing to establish a dominant position. Investors and industry observers will be closely monitoring the progress of these companies as they strive to bring this innovative technology to the mainstream.
Source: For the complete article, please visit the original source link below.
