AST SpaceMobile stock tries to bounce after analyst calls valuation “irrational”
AST SpaceMobile shares rose 3.6% to $88.80 in premarket trading Thursday after falling 12% the previous session. Scotiabank downgraded the stock to Sector Underperform, citing high valuation and execution risks, and set a $45.60 price target. The stock traded between $83.91 and $95.34 Wednesday, closing at $85.73. Investors remain focused on the company’s rollout pace and competition from SpaceX’s Starlink.