These 10 Stocks Were Wednesday’s Worst Performers

3. AST SpaceMobile Inc (NASDAQ:ASTS)

Shares of AST SpaceMobile retreated by 12.02 percent on Wednesday to finish at $17.72 apiece following news that technology giants T-Mobile and Apple Inc. chose SpaceX as their partner in integrating support for the Starlink network into the latest software.

The unexpected partnership with SpaceX’s Starlink network signals a potential shift away from reliance on traditional satellite communication providers.

According to sources privy to the matter, Apple has been quietly testing the Starlink service on its iPhones and updated its software earlier this week to support the technology. The development is particularly surprising, as T-Mobile had previously announced that Starlink connectivity would be exclusive to Samsung devices, including models like the Z Fold and S24.

Meanwhile, AST SpaceMobile is still trying to get its own direct-to-cell satellite service up and running. The company launched its first five operational BlueBird DTC satellites last summer but has yet to announce beta service with them.