What happened: Space-based Internet provider AST SpaceMobile (ASTS) shares plummeted as much as 9% on Monday.
What’s moving the stock: The Midland, Texas–based company’s BlueBird 7 satellite, launched by Blue Origin’s flagship New Glenn rocket over the weekend, failed to align in proper orbit.
AST said in a statement during the mission that BlueBird 7 was placed into a “lower than planned” orbit at an altitude that was too low to sustain operations.
What else you should know: The event raises questions about the success of the New Glenn launch. Blue Origin is Jeff Bezos’s space company and a competitor to SpaceX.
AST SpaceMobile said it still expects to launch satellites every one to two months in 2026 and is targeting about 45 satellites in orbit by year-end as part of its planned broadband network for cellular phones.
The cost of the lost satellite will be covered by the company’s insurance.
Monday’s move puts the stock in negative territory year-to-date. But shares of the satellite company are still up more than 270% over the past year.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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