AST SpaceMobile, Inc. (ASTS) experienced a pre-market plunge of 13.48% on Monday, extending significant losses from the previous trading sessions.

The sharp decline follows the confirmed failure of the company's BlueBird 7 satellite launch. During Blue Origin's New Glenn 3 mission, the satellite was deployed into an incorrect orbit with an altitude too low to sustain operations, forcing AST SpaceMobile to de-orbit the spacecraft. While the company expects to recover the satellite's cost through insurance, the operational setback raises concerns about launch partner reliability and execution risks for AST SpaceMobile's ambitious plan to build a space-based cellular broadband network.

Adding to the negative sentiment, Deutsche Bank recently reduced its price target on AST SpaceMobile while maintaining a Buy rating. The failed deployment represents a significant hiccup in the company's constellation rollout timeline, despite AST SpaceMobile maintaining its target of approximately 45 satellites in orbit by the end of 2026.