AST SpaceMobile stock slides 11% after AT&T’s Amazon Leo deal shakes satellite-to-phone trade
AST SpaceMobile shares fell 10.6% to $103.50 after AT&T announced new agreements with Amazon’s Leo satellite project and AWS. AT&T said the Amazon deal targets fixed broadband for businesses and does not affect its partnership with AST. Investors are watching for updates at Mobile World Congress and the timing of AST’s next satellite launch. Globalstar and Iridium also declined, while AT&T gained 1.5%.