AST SpaceMobile Stock Is Tumbling After Hours: What's Going On?
Portfolio Pulse from Adam Eckert
AST SpaceMobile Inc (NASDAQ:ASTS) announced a public offering of 12 million shares, intending to use the proceeds for general corporate purposes, including expected cash payments related to launch services and additional equipment in Q3. The shares are expected to be offered on the Nasdaq, the over-the-counter market, and through negotiated transactions. Following the announcement, ASTS shares fell 11.3% after hours to $5.65.
June 27, 2023 | 8:49 pm
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AST SpaceMobile's stock price fell 11.3% after hours following the announcement of a public offering of 12 million shares.
The announcement of a public offering often leads to a decrease in the stock price due to the dilution of shares. In this case, AST SpaceMobile's stock price fell 11.3% after hours, indicating a negative short-term impact.
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