AST SpaceMobile (ASTS.US) plans to expand its spectrum footprint, but its 140x "dream valuation" comes under attack from a Wall Street veteran.

Zhitong Finance APP has learned that AST SpaceMobile (ASTS.US) is actively expanding its spectrum footprint to strengthen its satellite broadband capabilities, but the market is not buying it the stock fell 1% in premarket trading on Monday. AST SpaceMobile shares rose nearly 3% last Friday to close at $39.70, but fell 2% for the full week, marking a fourth consecutive weekly decline. Market veteran Herb Greenberg went further by calling out its valuation bubble, arguing that even after the earlier sharp selloff, the stock's current pricing remains severely disconnected from fundamentals.