Why Is AST SpaceMobile Stock Down This Week?

AST SpaceMobile stock fell 15.5% this week after Fed Chair Kevin Warsh signaled that inflation is the Federal Reserve's top priority, increasing the likelihood of interest rate hikes. The company, which relies heavily on borrowed money to build its satellite constellation, is particularly vulnerable to rising rates. While Q2 revenue surged to $31.5 million from $1.2 million year-over-year, net losses widened significantly to $230.9 million.