10 Firms Mirror Wall Street Bloodbath

2. AST SpaceMobile Inc. (NASDAQ:ASTS)

AST SpaceMobile dropped its share prices by 11.22 percent on Monday to close at $20.76 apiece amid an overall market pessimism that spilled over into the company.

In recent news, ASTS, in partnership with telecommunications provider AT&T, secured the green light from the Federal Communications Commission (FCC) to test direct-to-cellular satellite connectivity. The approval covers tests of FirstNet using ASTS’ Bluebird satellites, which are currently in low Earth orbit.

With the approval, AT&T and ASTS expect public-safety-grade satellite communications to begin later this year.

“Satellite connectivity on FirstNet is being built with public safety’s unique needs in mind,” said Matt Walsh, AT&T’s AVP for FirstNet and NextGen 911 products.

“First responders need more than the minimum, and we are excited to continue building out our comprehensive network to serve the public safety community,” he added.