AST SpaceMobile Shares Plunge Following Severe Analyst Downgrade

Shares of satellite communications firm AST SpaceMobile are experiencing a sharp sell-off today. The catalyst is a severe rating cut from Canadian investment bank Scotiabank, which has issued a new price target of just $45.60. This represents a potential downside of over 50% from the previous day’s closing price, with the bank’s analyst calling the current valuation “irrational.”

The market’s reaction was swift. After closing at $97.49 on Tuesday, the stock opened significantly lower today, shedding as much as 8% in early trading. This move abruptly halts a rally that had seen the shares gain more than 30% in the initial trading sessions of 2026.

Scotiabank analyst Andres Coello drove the negative sentiment Read more...