AST SpaceMobile (ASTS) stock sinks 12% after Scotiabank downgrade calls valuation ‘irrational’
New York, January 7, 2026, 17:12 EST — After-hours 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. The move matters because the stock has been priced for a smooth build-out. ASTS has gained about 324% over the past 12 months and jumped about 34% in the last week, data cited by Investing.com showed, leaving it near a 52-week high before Wednesday’s drop. Investing.com Scotiabank analyst Andres Coello downgraded AST to sector underperform — a