AST SpaceMobile Inc. (ASTS) on Tuesday announced the launch of an $800 million at-the-market equity offering, with shares of its Class A common stock to be sold through a group of major investment banks acting as agents. 

The company disclosed the move in a filing with the Securities and Exchange Commission (SEC). Under the agreement, AST SpaceMobile may sell shares using any method that qualifies as an“at-the-market” offering under the Securities Act, including direct sales on Nasdaq, through market makers, in negotiated trades, or other legal avenues.

AST SpaceMobile stock traded over 4% lower on Tuesday, after the morning bell. However, on Stocktwits, retail sentiment around the stock remained in 'extremely bullish' territory. Message volume improved to 'extremely high' from 'high' levels in 24 hours. 

The stock experienced a 482% increase in user message count over 24 hours, as of Tuesday morning. A Stocktwits user said they have bought the dip. 

Another user sounded positive about the at-the-market equity offering. 

Meanwhile, Scotiabank downgraded the stock on Tuesday, citing serious concerns about its current valuation and long-term competitive risks. The firm shifted its rating to 'Underperform' from 'Sector Perform' while maintaining its $42.90 price target, according to TheFly.

Scotiabank pointed to what it called a“valuation bubble,” noting that AST SpaceMobile's stock has doubled over the past month. The firm warned investors that such rapid price increases often lead to“painful corrections,” as the company faces competitive pressures, particularly from SpaceX's Starlink service.

The firm emphasized that delays in launching AST's satellite-based broadband services could further strengthen Starlink's foothold, potentially drawing away future clients. 

AST SpaceMobile stock has gained 233% in 2025 and over 182% in the last 12 months. 

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