AST SpaceMobile shares drop 8% after Blue Origin's rocket places satellite in wrong orbit

AST SpaceMobile's shares fell about 8% after its BlueBird 7 satellite was placed in a lower-than-planned orbit by Blue Origin's New Glenn rocket. The satellite powered on but could not sustain operations due to insufficient altitude and will be deorbited. The company expects insurance to cover the satellite's cost and maintains its plan for over 90 satellites long-term. Despite the setback, AST plans regular satellite launches throughout 2026 and continues production on upcoming satellites, aiming for 45 in orbit by year-end.