New York, Feb 5, 2026, 12:30 EST — Regular session
- Shares of AST SpaceMobile fell during midday trading, adding to a turbulent week for stocks tied to the space sector.
- AT&T’s latest collaboration with Amazon Leo has sharpened attention on how U.S. carriers plan to leverage satellite connections.
- Investors are focused on AST’s upcoming launch window and whether telecom partners will increase or shift their capacity.
Shares of AST SpaceMobile dropped 7.8% to $95.45 by midday Thursday, fluctuating between $104.01 and $92.24 earlier. The Invesco QQQ ETF, which tracks the Nasdaq, slipped roughly 1.1%, with Amazon falling 3.9% and AT&T dipping 0.4%.
This move is crucial since AST’s narrative hinges on execution and backing from carriers. The company is developing a “direct-to-device” network, allowing regular phones to link with satellites sans extra gear. Investors have zeroed in on U.S. telecom partnerships as a major indicator.
AT&T, Amazon Web Services, and Amazon Leo announced Wednesday they’re stepping up collaboration on cloud migration, fiber connectivity, and satellite links. As part of the deal, AT&T will shift workloads to AWS Outposts, supply high-capacity fiber for AWS data centers, and tap into Amazon Leo’s low-Earth-orbit satellite network to broaden its coverage. Shawn Hakl, AT&T Business product chief, described fiber as “the foundation” of the initiative. (Business Wire)
In a separate interview, AWS product executive Amir Rao called the AT&T workload migration a move at “massive scale.” An AT&T spokesperson told Fierce that integrating Amazon Leo for fixed broadband won’t alter its existing relationship or plans with AST, which remains centered on direct-to-cell service for mobility users. (Fierce Telecom)
Investors are also questioning if Amazon’s satellite rollout will stay on schedule. Amazon Leo has formally requested a 24-month extension from the U.S. Federal Communications Commission to hit an interim deployment target for its planned 3,236-satellite network. The company pointed to launch delays and other setbacks. As of January, Amazon said it had 180 satellites in orbit and planned to reach roughly 700 by July 30, 2026. (Light Reading)
Legal developments stirred the waters. On Feb. 3, Pomerantz LLP announced it’s probing claims for AST SpaceMobile investors. The firm’s alert referenced a Scotiabank downgrade from early January, which highlighted stiff competition from SpaceX’s Starlink, sluggish adoption rates, and delayed launches. (GlobeNewswire)
AST has a key date on the horizon that traders are focused on. The company announced that BlueBird 7, its next-gen satellite, is set to launch late February aboard Blue Origin’s New Glenn-3 from Cape Canaveral. Looking ahead to 2026, AST plans to maintain a steady launch pace—roughly one orbital mission every one to two months—aiming to deploy between 45 and 60 satellites by year-end. “This launch advances our mission to bring space-based cellular broadband connectivity to everyday smartphones,” said AST President Scott Wisniewski. (Business Wire)
The key question now: Is AT&T’s deal with Amazon Leo simply adding capacity, another option to tackle fixed broadband “dead zones,” or does it hint that carriers want multiple routes to space—and thus more bargaining power—as satellite-to-phone services develop?
The downside scenario is clear-cut: delays in launch schedules, technical glitches in orbit, or slower-than-expected carrier deployments would hit a stock priced for long-term revenue growth. Ongoing legal probes and evolving competitive disputes could also sustain both the premium and the stock’s volatility.
Next on the docket: the BlueBird 7 launch window set for late February, plus fresh updates from AT&T and AWS at Mobile World Congress in early March. All eyes will also be on the FCC as it reviews Amazon Leo’s extension request.
