AST SpaceMobile stock drops 14% after BlueBird 7 satellite placed in low orbit and will be de-orbited.

AST SpaceMobile's shares fell over 14% after its BlueBird 7 satellite was placed in a lower-than-planned orbit during the New Glenn 3 mission, making it unsuitable for sustained operations. The company plans to de-orbit the satellite but expects to recover its cost through insurance. Despite this setback, AST SpaceMobile continues production with BlueBird 8 to 10 expected to launch soon and aims to have about 45 satellites in orbit by the end of 2026. Analysts maintain a Hold rating on the stock with a mixed price target range, reflecting cautious optimism amid the technical challenges.