Why AST SpaceMobile Stock Slumped on Tuesday
If AT&T and Verizon are so confident of AST SpaceMobile's success, why are they planning to sell their AST shares?
AST SpaceMobile (NASDAQ: ASTS) stock fell 3.2% through 10:10 a.m. ET Tuesday on some disconcerting news out of the Securities and Exchange Commission (SEC).
In a trio of stock filings Monday, AST advised that certain of its shareholders intend to sell at least 60,296, and possibly as many as 56.1 million shares of AST stock.
The stock filings in question, all listed on the SEC's EDGAR website, are as follows:
