ASTS Stock Plunges 17% to 2026 Low After $1B Convertible Raise, But Najarian Sees 'Strong Upside Bet'

According to options analyst Jon Najarian, AST SpaceMobile shares plunged 17% on Thursday (July 17) to close at $55.01, marking their worst single day in over two years, following announcement of a $1 billion convertible-note offering at a conversion price of $79.57 per share. Najarian called the structure "a pretty strong bet to the upside," noting that conversion rights remain valuable even if the stock climbs significantly above the strike price.

The company said proceeds may be used for partnerships and acquisitions to further vertically integrate its launch capabilities. ASTS continues expanding its BlueBird satellite network, with newer-generation spacecraft expected to deliver nearly twice the peak speeds of first-generation satellites, with BlueBirds 8, 9, and 11 in various stages of deployment.