10 Stocks Facing Selling Pressure Ahead of Christmas

Ten stocks kicked off the trading week slashing double-digit gains, outperforming the drop of the broader indices, amid selling pressure in the technology sector, still dampened by concerns about an AI bubble.

On Wall Street, the Nasdaq led the drop, down 0.59 percent, followed by the S&P 500, declining 0.16 percent, and the Dow Jones, down 0.09 percent.

In this article, we spotlight the names of the 10 biggest losers and break down the reasons behind their drop.

To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.

Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels

10. AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile snapped a two-day rally on Monday, shedding 11.6 percent to close at $67.81 apiece as investors soured on the delay of its next-generation satellite launch.

Supposedly set for December 15 at the Satish Dhawan Space Center in India, AST SpaceMobile (NASDAQ:ASTS) said that BlueBird 6 takeoff has been pushed back to Sunday, December 21.

Investors took the news negatively on concerns about potential execution risks and the impact of further setbacks on the company’s commercialization plans and near-term revenue visibility.

According to AST SpaceMobile (NASDAQ:ASTS), the BlueBird 6 would feature the largest commercial phased array in low Earth orbit at nearly 2,400 square feet, representing a 3.5 times increase in size over the first to fifth generations, and supports 10 times the data capacity. It is targeted to enable ubiquitous cellular broadband coverage directly to everyday smartphones from space.

In line with the launch, AST SpaceMobile Inc. (NASDAQ:ASTS) said that it would also expand its manufacturing sites in Texas and Florida in a bid to ramp up the production of BlueBird 6.

Apart from the BlueBird 6 launch, the company said that it targets to make five launches beginning in December until March 2026.

9. Ondas Holdings Inc. (NASDAQ:ONDS)

Ondas Holdings fell by 12.11 percent on Monday to close at $7.69 apiece as investors unloaded portfolios following the resignation of one of its board members, effective immediately.

In a regulatory filing on Friday, Ondas Holdings Inc. (NASDAQ:ONDS) said that Ron Stern, who was appointed director and only joined the board of directors in January this year, stepped down from his post effective on Friday, December 12.

Investors took the news in a negative light despite Ondas Holdings Inc.’s (NASDAQ:ONDS) announcement that the resignation was not a result of any company disagreement.

In connection with the resignation, the Directorship Agreement dated January 6 has also been terminated.

Stern’s resignation followed his disposal of all his 850,000 shares in the company on November 26 at a price of $7.9123 for a total of $6.7 million.

In other news, Ondas Holdings Inc. (NASDAQ:ONDS) last week announced its intention to invest $11 million in Drone Fight Group, a Ukrainian developer of advanced unmanned aerial systems, through its strategic advisory and investment platform, Ondas Capital.

DFG is a fast-scaling innovator in high-performance unmanned systems that have been forged and refined through intense combat in Ukraine. DFG’s platforms include strike-optimized FPV systems, ISR drones, autonomous mission technologies, and cutting-edge drone simulators.