AST SpaceMobile (ASTS) stock sinks 12% after Scotiabank downgrade calls valuation ‘irrational’

AST SpaceMobile shares fell 12.1% on Wednesday after Scotiabank cut its rating on the satellite-to-smartphone company, dragging the stock to $85.73 at the close. The shares traded between $95.25 and $84.10 in the session.

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