TradingKey – On October 9 Eastern Time, AST SpaceMobile (ASTS) closed down 10.48% at $50.97, hitting an intraday low of $47.57 to set a new 52-week low, with volume reaching approximately 54.38 million shares.

On October 8, Grain Management announced a definitive agreement with SpaceX to sell its nationwide portfolio of 800 MHz spectrum licenses. The transaction remains subject to approval by the US Federal Communications Commission and the satisfaction of other closing conditions.

SpaceX (SPCX) expanding its presence in mobile communications raised market concerns over intensifying competition, serving as part of the backdrop for ASTS’s decline that day.