Definitely seems like $ASTS is overshooting to the downside today (down -18.5%) on an offering that might be less than 2% dilution (see below for details). I'm no expert on the company but I'm pretty sure the long-term thesis didn't change in the past 24 hours. Our position was less than 40 bps coming into today... we've started doing some small adds because the stock is now looking washed out (RSI at 31)... and pulling back to some very important technical levels ie fibs and vwaps. This is the lowest RSI has been since the 2024 lows. NFA. DYOR.
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