• ASTS is trading at $69.89, down 4.1%, as a significant insider share sale by a CEO-linked entity, involving 2.5 million shares, is set to close today.
  • This comes amidst a multi-day pullback and profit-taking, and despite recent positive developments such as a new joint venture with Rakuten for direct-to-mobile communications in Japan announced today, and planned August satellite launches.
  • The insider selling appears to be a company-specific factor contributing to today's downward pressure on the stock.