AST SpaceMobile Tumbles as Volume Surges to $800M Rank 132 Amid SpaceX Spectrum Grab

On September 8, 2025, AST SpaceMobile (ASTS) closed with a 3.87% decline, despite a 167.02% surge in trading volume to $0.8 billion, ranking 132th among stocks by volume. The drop followed a key industry development as EchoStar announced plans to sell two 5G spectrum blocks to SpaceX, strengthening Starlink’s position in the direct-to-cell satellite communications market. This move intensified competitive pressures on AST SpaceMobile, which competes with SpaceX in the sector.

Roth Capital analysts highlighted the strategic implications of the spectrum deal, noting that SpaceX’s expansion could pressure AST SpaceMobile’s market position. However, the firm maintained a “buy” rating for ASTS with a $56 price target, citing the company’s partnerships with major carriers like AT&T and Verizon. The analyst emphasized that SpaceX’s success may hinge on future satellite upgrades and smartphone partnerships, areas where AST SpaceMobile retains established alliances.

Despite the optimistic outlook from Roth Capital, the market appears skeptical. AST SpaceMobile reported less than $5 million in annual revenue and operates at a $14 billion market cap without profitability. Critics argue that SpaceX’s aggressive expansion and cost-efficient operations may outpace AST’s efforts, leaving the company “stuck in neutral” as the race for direct-to-cell dominance accelerates.

To run this back-test precisely, I need a few additional details about how you’d like the strategy defined and evaluated: 1. Market universe • Should we look at all U.S. common stocks (NYSE + NASDAQ + AMEX), or a different exchange list? • Any price or liquidity filters (e.g., exclude stocks < $1)? 2. “Daily trading volume” definition • Raw share volume, or dollar volume (Price × Volume)? 3. Entry / exit prices • Buy at today’s close and sell at tomorrow’s close (standard close-to-close test), or buy tomorrow’s open and sell tomorrow’s close (open-to-close), etc. • Any transaction-cost assumption? 4. Position sizing • Equal weight each of the 500 names each day? (Default) • Or scale weights by volume, market-cap, etc.? 5. Risk controls • Stop loss, max drawdown, or simply no additional risk overlays? Once we pin these down, I’ll generate the data-retrieval plan, fetch the required daily volume and price series, create the rebalancing signals, and run the back-test from 2022-01-01 through today. Let me know your preferences, and we’ll proceed immediately.