Stock Market Today, May 29: AST SpaceMobile Falls After Blue Origin Rocket Test Failure Raises Launch Delay Fears
AST SpaceMobile (NASDAQ:ASTS) is working to build a space-based cellular broadband network accessible directly by standard smartphones. The stock closed Friday at $113.41, down 14.79%. The drop came after reports of a Blue Origin New Glenn test rocket explosion and a Deutsche Bank (NYSE:DB) downgrade. Investors are watching for potential launch delays and execution risk around its BlueBird constellation rollout.
Trading volume reached 47.8 million shares, coming in about 159% above its three-month average of 18.4 million shares. AST SpaceMobile IPO'd in 2019 and has grown 1,061% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) added 0.23% to finish Friday at 7,581, while the Nasdaq Composite (NASDAQINDEX:^IXIC) rose 0.20% to close at 26,973. Within communication equipment names, industry peers Iridium Communications (NASDAQ:IRDM) closed at $51.78 (up 1.01%) and Gilat Satellite Networks (NASDAQ:GILT) ended at $17.17 (down 3.70%) as investors reassessed satellite-connectivity risk.
What this means for investors
The Blue Origin New Glenn explosion could impact AST SpaceMobile’s near-term plans. The company has utilized several commercial launch providers for its BlueBird constellation launches, including Blue Origin and SpaceX.
Earlier this month, AST CEO Abel Avellan updated investors with the company’s plan to launch approximately 45 satellites into orbit this year, noting a “multi-partner launch strategy.”
Delays from Blue Origin could impact AST SpaceMobile’s plan, giving AST investors one more added risk to the speculative stock. Added pressure on the stock came from a Deutsche Bank downgrade, including a price target cut to $106 per share. As a speculative space play, investors should expect more volatility ahead.
Should you buy stock in AST SpaceMobile right now?
Before you buy stock in AST SpaceMobile, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AST SpaceMobile wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $465,733!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,313,467!*
Now, it’s worth noting Stock Advisor’s total average return is 985% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of May 29, 2026.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AST SpaceMobile. The Motley Fool has a disclosure policy.
Recommended Articles
