While the market’s latest selloff, which was rooted in the runaway AI chip trade, has adversely impacted high-flying tech stocks, high-beta companies in other industries have also had to deal with the fallout.
Among them is AST SpaceMobile (NASDAQ: ASTS), the aerospace and space-based cellular broadband network provider. On Friday, June 5, ASTS fell over 12%, good for one of the stock’s worst single-day losses of the year.
