Overview

• AST SpaceMobile dropped 9.38% to $49.39 on Thursday, its second straight decline as investors took profits.
• Reports suggested Mexican billionaire Carlos Slim could invest as much as $22 billion, but the company has not confirmed those claims.
• Carlos Slim already holds a stake in AST SpaceMobile, and his daughter serves on the company’s board of directors.
• Jim Cramer labeled ASTS “a perfect spec” earlier in the week, yet he also warned the firm is losing money with almost no revenue and said its promise “isn’t self-evident,” noting the stock is up about 158% year to date.
• AST SpaceMobile is building its BlueBird satellite constellation to deliver space-based cellular broadband directly to standard smartphones.