Shares of AST SpaceMobile (ASTS) snapped a two-day losing streak on Monday, gaining 0.2% after declining more than 4% across the prior two sessions.
The modest rebound came as the Federal Communications Commission continued its review of Ligado Networks’ application to operate L-band broadband payloads aboard 96 satellites in AST’s constellation.
Ligado filed the request in December, and the FCC accepted it for filing on January 30, 2026, with records still listing the application as “Pending Review” and no grant date disclosed.
The proposed network, called SkyTerra Next, would provide broadband connectivity to existing, unmodified mobile devices by modifying Ligado’s existing SkyTerra-1 license to add a low-Earth-orbit Mobile Satellite Service layer.
According to Ligado’s technical supplement, its L-band payloads would operate aboard 96 AST satellites at an altitude of roughly 690 kilometers, with steerable beams and variable power controls designed to mitigate interference.
AST would supply the satellites and supporting infrastructure, with the company stating in a December letter that the partnership would deliver space-based broadband to U.S. subscribers through their “existing, unmodified mobile devices.”
Ligado also asked the FCC to waive rules that typically place new non-geostationary systems into processing rounds with competing applicants, arguing that SkyTerra Next would use previously coordinated L-band spectrum rather than seek new frequencies.
The company warned that requiring another processing round would cause delays and “stifle the innovative new technology” enabled by its AST partnership.
After the FCC opened the application to public comment in January, opponents raised concerns about interference with GPS, aviation, weather, and satellite communications systems, while also questioning whether the proposal effectively constituted a transfer of license control to AST.
Both Ligado and AST rejected those claims, maintaining that Ligado would retain ownership and full operational control, including the ability to shut down particular frequencies or beams if needed.
Following additional technical questions submitted in May, Ligado responded with analyses conducted alongside AST and outside consultants, asserting the system would fit within existing authorizations without causing harmful interference, and pledging to “promptly resolve” any interference that did arise.
The underlying agreement would give AST more than 80 years of usage rights to as much as 45 MHz of spectrum, including up to 40 MHz of Ligado’s L-band holdings, with a $550 million payment from AST due upon regulatory closing.
The deal also includes minimum annual L-band payments of approximately $80 million, with a bankruptcy court having approved the arrangement in June last year before confirming Ligado’s reorganization plan in September 2025.
FCC approval could give AST a dedicated satellite-spectrum layer to complement terrestrial frequencies supplied by partners including AT&T, Verizon, and FirstNet.
On Stocktwits, retail sentiment for ASTS slipped to “bearish” from “bullish” levels a day earlier, accompanied by a 368% surge in 24-hour message volumes, with one user writing “$ASTS price action is evident that it cannot break thru without catalyst news. Release the PRs dammit!!”
A second user offered a more patient perspective, posting “$ASTS Today was merely a test of patience. Great rewards will be bestowed upon the faithful.”
ASTS stock has risen 48% over the past year as investors monitor the FCC review for any sign of a timeline toward final approval.
