Author says ASTS's valuation was irrational, citing revenue comparison to American Tower and heavy dilution.
ASTS — AVOID Author considers AST SpaceMobile's rally irrational because despite minimal revenue and no consumer satellites, it was valued at half of American Tower, which has $10B in revenue. Management also tripled the share count and raised over $1.5B during the speculative surge, indicating opportunistic dilution.
Being worth half of American Tower who has 10B in revenue when you don't have a single consumer sat in the Sky at 0.018B in revenue is not something I saw coming.