These 10 Stocks Were Sold Down Today, And Here’s Why

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

AST SpaceMobile declined by 7.69 percent on Monday to end at $24.61 apiece amid the lack of fresh catalyst to boost investment appetite, as investors soured on its mixed earnings performance in the first quarter of the year.

In its earnings release, net loss attributable to shareholders expanded by 132 percent to $45.7 million from $19.7 million registered in the same period last year.

Revenues, on the other hand, increased by 43.6 percent to $718,000 from $500,000 year-on-year.

Total operating expenses also grew by 13.7 percent to $63.68 million from $56 million in the same comparable period.

Looking ahead, AST SpaceMobile, Inc. (NASDAQ:ASTS) expects to realize revenues between $50 million and $75 million from its Advanced SpaceMobile network commercialization efforts in the second half of the year.

“Today, we are at an inflection point for the company. We have ramped up manufacturing capacity and are now able to announce our plans to support five scheduled orbital launches over the next six to nine months. Commercially, we have also expanded our U.S. Government opportunity and are in a position to start generating meaningful revenue during 2025,” said AST SpaceMobile, Inc. (NASDAQ:ASTS) Chairman and CEO Abel Avellan.