Movement Alert｜AST SpaceMobile Falls 14.88% in Regular Trading, SpaceX IPO Valuation Cut Triggers Space Sector Selloff

Market Focus05-29

On May 29, AST SpaceMobile fell 14.88% in regular trading, trading at $112.73/share, with trading volume of approximately $823 million.

On the news front, SpaceX reportedly lowered its IPO target valuation from over $2 trillion to at least $1.8 trillion after consultations with advisors and investors, significantly dampening market sentiment toward the space sector. U.S.-listed space concept stocks declined broadly, with Momentus and Redwire falling over 7%, and Rocket Lab dropping over 6%.

The selloff was compounded by intensifying profit-taking pressure. ASTS had previously surged over 30% in a single week, including a 19% single-day gain on May 27, driven by SpaceX's original IPO filing boosting sector enthusiasm, major U.S. carriers forming a satellite-to-device service joint venture validating market prospects, and the company's accelerated satellite manufacturing timeline. After accumulating substantial short-term gains, profit-taking capital accelerated its exit.

AST SpaceMobile is an innovative satellite designer and manufacturer building the first space-based cellular broadband network accessible directly by standard smartphones, covering 2G, 3G, 4G LTE, 5G, and IoT devices.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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