$ASTS is taking a massive hit following SpaceX's $8B spectrum deal and FCC approval for 15,000 direct-to-phone satellites. But we always kind of knew SpaceX was going to expand Starlink into mobile connectivity. This was always going to be a competitive market. The question now is whether the satellite-to-phone market is large enough for multiple companies to succeed. Can both ASTS and SpaceX become major winners in this space?
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