10 Stocks Crash Hard on a Roaring Monday

2. AST SpaceMobile, Inc. (NASDAQ:ASTS)

AST SpaceMobile dropped its share prices by 5.33 percent on Monday to close at $46.73 apiece as investors resorted to profit-taking following its surge to a record high last week.

On Tuesday last week, AST SpaceMobile, Inc. (NASDAQ:ASTS) jumped to a new high of $54.05 as investors scooped up shares ahead of its official inclusion in the Russell 1000 index, which took effect after the market closed on Friday. The Russell 1000 Index tracks the largest 1,000 US companies by market capitalization. It is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

“Joining the Russell 1000 Index marks another important milestone as we work to deliver on our mission of eliminating coverage gaps and bringing cellular broadband connectivity directly to the mobile devices of the billions of people who remain unconnected,” said AST SpaceMobile, Inc. (NASDAQ:ASTS) CFO Andrew Johnson.

“This inclusion will expand our visibility among investors as we continue to advance our technology, scale operations, and execute against our global growth plans,” he added.