AST SpaceMobile stock dives 10% as Scotiabank downgrade hits ASTS valuation
AST SpaceMobile shares dropped 10.2% to $87.55 Wednesday after Scotiabank downgraded the stock to “Sell” with a $45.60 target. Analyst Andres Coello cited high valuation and a lack of near-term profits, warning the company may not generate significant free cash flow until 2028 or 2029.