On June 1, AST SpaceMobile fell 5.03% in pre-market trading, trading at $108.0/share, with trading volume of $13.14 million. The decline was triggered by a double blow from a Wall Street downgrade and ongoing concerns over a key launch partner's rocket failure.

Deutsche Bank analyst Bryan Kraft downgraded AST SpaceMobile from \"Buy\" to \"Hold\" and slashed the target price from $117 to $106. The downgrade comes after Blue Origin's \"New Glenn\" rocket exploded during a static fire test at Cape Canaveral, Florida. Since Blue Origin is contracted to launch AST SpaceMobile's communication satellites, the analyst warned that the incident will significantly delay Blue Origin's launch timeline, and that without Blue Origin's support, AST SpaceMobile will be unable to meet its launch targets. Although the company has filed backup launch arrangements including SpaceX's Falcon 9, near-term sentiment remains under pressure as the stock continues to pull back from recent highs accumulated during a one-week rally exceeding 30%.

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