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AST SpaceMobile shares drop sharply after multiple $1B convertible note offerings and downgrade.

Market News
20 Oct 2026
PRNewsWire
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Bearish
AST SpaceMobile shares drop sharply after multiple $1B convertible note offerings and downgrade.

AST SpaceMobile's stock fell significantly after a series of negative events in 2026. The company was downgraded to "Sell" by Scotiabank due to competition from Starlink and slow user adoption, causing a 12% drop in January. Subsequent $1 billion convertible note offerings in February and July led to further declines of over 15% and 17%, respectively, amid concerns from analysts about the company's financing and funding claims. Shareholders are being invited to contact a law firm regarding potential legal action related to these events.

Following recent legal concerns for AST SpaceMobile, the stock trades at USD 42.21 on Pluang as of Oct 21, 2026 07:21 WIB, showing a modest 0.86% gain in the last day. Despite past significant drops, the market cap stands at $12.55 billion, with the stock near its 52-week low of $40.66. On Pluang, investors hold shares typically for 34 days, with current order activity favoring buys at 67%.

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