Why Is AST SpaceMobile Stock Falling Thursday?

AST SpaceMobile, Inc. (NASDAQ:ASTS) stock fell nearly 7% Thursday as broader market weakness and concerns about rising debt across the space industry weighed on investor sentiment. The decline followed reports of a major financing plan by SpaceX. Meanwhile, the Nasdaq fell 0.57%, and the S&P 500 declined 0.34%. SpaceX’s $40 Billion Debt Plan Raises Concerns Space Exploration Technologies Corp. (NASDAQ:SPCX) is seeking $40 billion in financing to purchase artificial intelligence chips from NVIDIA Corporation (NASDAQ:NVDA). According to a media report Wednesday, SpaceX is considering $10 billion in bank loans and $30 billion in investment-grade debt. Apollo Global Management, Inc. (NYSE:APO) is expected to lead the financing, which could close in 2027. The proposed borrowing has raised concerns about rising debt and capital requirements across the space industry. See More: Top Value Stocks Technical Analysis: Bearish Trend Persists AST SpaceMobile remains below its major moving averages, signaling continued weakness. The stock trades about 5.3% below its 20-day simple moving average (SMA) of $60.07 and 29.7% below its 200-day SMA of $80.93. Additionally, its 50-day SMA remains below its 200-day SMA following a death cross in July. This pattern signals a bearish long-term trend. However, the moving average convergence divergence (MACD) indicator remains above its signal line. The positive histogram suggests selling momentum may be easing. Key resistance stands near $65.50, while immediate support sits around $55.50. Analyst Outlook AST SpaceMobile carries a Hold consensus rating, with an average analyst price forecast of $82.83. Recent analyst actions include: B. Riley Securities: Downgraded the stock to Neutral and lowered its price forecast to $65 on Oct. 2. Berenberg: Initiated coverage with a Buy rating and a $92 price forecast on Sept. 2. UBS: Maintained a Neutral rating and lowered its price forecast to $78 on Aug. 11. ASTS Stock Price Activity: AST SpaceMobile shares were down 6.61% at $56.64 at the time of publication on Thursday, according to Benzinga Pro data. Photo via Shutterstock Read Also: Elon Musk’s SpaceX Gets Green Light from Trump's FCC for 15,000 Starlink Satellites: Here’s What Comes Next