In this article

A failed satellite launch sent of AST SpaceMobile

down sharply on Monday.

The stock fell nearly 12% in premarket trading after a rocket designed by Jeff Bezos’ space technology company Blue Origin placed the satellite in a lower-than-planned orbit on Sunday.

AST SpaceMobile’s BlueBird 7 satellite would have been the company’s eighth launched into low-earth orbit, the company said in a Sunday press release. It was launched on Blue Origin’s third New Glenn rocket.