Starlink Rival AST SpaceMobile Gets Rare Sell Amid 254% Run

A rendering of an AST SpaceMobile satellite. AST SpaceMobile Inc. shares have more than tripled this year as the race for space-based cell phone connectivity heats up. With Elon Musk’s SpaceX division, Starlink, rushing to overtake it, AST is positioned for “painful corrections,” according to a Scotiabank analyst. “In the midst of an impressive bull market, extreme volatility in recent days has led to what we see as a valuation bubble,” analyst Andres Coello wrote in a note Tuesday downgrading the stock ...