AST SpaceMobile stock slides after Scotiabank downgrade calls valuation “irrational”
New York, Jan 7, 2026, 12:42 (EST) — Regular session AST SpaceMobile, Inc. (ASTS) fell 8.5% to $89.18 in midday trading on Wednesday after Scotiabank cut the satellite communications company to sector underperform. The stock opened at $91 and hit a session low of $88.49 as volume rose past 12.3 million shares. The downgrade hits after a sharp run that has pushed the stock close to its highs and made valuation the central argument. Shares have more than tripled over the past 12 months, even though the company is not expected to post positive operating profit until 2027. Barron’s Scotiabank