ASTS Stock Jumps Overnight: Vanguard, Rakuten Unit Boost Holdings — Why Are Retail Traders Still Bearish?

• Rakuten Investment Management increased its holding 23.9% to 17,156 shares.
• The Rakuten-AST venture was preliminarily selected for Japan’s J-LEO initiative, with potential government funding of up to about $1 billion.
• AST targets initial, intermittent coverage in five markets before year-end, targeting 45 BlueBird satellites in early 2027.

Shares of AST SpaceMobile (ASTS) jumped over 3% overnight heading into Monday as filings revealed bigger holdings at Vanguard Capital Management and a Rakuten unit, but satellite launch worries kept retail sentiment bearish. 

ASTS stock rose 3% last week, snapping a four-week losing streak, but ended October down 30% for its second consecutive monthly decline. 

Vanguard And Rakuten Unit Add ASTS Shares

Vanguard Capital Management’s reported ASTS holdings climbed 23% from June to 15.3 million shares, representing a 5.11% stake as of Sept.30.

Meanwhile, Rakuten Investment Management raised its stake 24% to 17,156 shares, although its reported value fell to $1.02 million from $1.2 million, according to data from Fiscal AI. Other Friday disclosures showed mixed moves. Truist Financial increased its holding 8.6% to 47,266 shares, while STRS Ohio cut its position 33.4% to 3,732. Laurion and Sky Investment reported 30,002 and 20,830 shares, respectively. 

J-LEO Puts Rakuten Partnership In Focus

The Rakuten-AST partnership also extends to Japan’s J-LEO program to build satellite infrastructure under domestic control. AST said in August that the venture had been preliminarily selected for a project worth up to $1 billion in government funding, without debt or new share issuance.

Rakuten aims to secure satellite ownership and operating rights to keep Japan connected during emergencies. The buildout would complement its upcoming commercial service using AST satellites, targeted for the fourth quarter of 2026, with J-LEO details still being finalized.

AST Prepares For Year-End Service

AST is targeting initial, intermittent coverage before year-end in the United States, Canada, Japan, the United Kingdom and Saudi Arabia, with more satellites needed to move toward continuous service.

In July, the company targeted 45 BlueBird satellites in early 2027, subject to testing and launch availability. An August update reported 13 spacecraft in orbit following the Aug. 5 launch of BlueBirds 11-13, with BlueBirds 14–16 expected to be ready to ship shortly.

By October, AST said production had advanced through BlueBird 50, supported by more than 60 gateways deployed, installed or planned and over 60 operator partners covering 3 billion-plus subscribers.

In Brazil, AST secured authorization for 30 MHz of S-band spectrum and secondary access to up to 20 MHz in the 700 MHz band through four regional operators. It also plans four gateways.

Meanwhile, Deutsche Telekom, Orange, Telefónica and Vodafone agreed to explore a joint European satellite-spectrum bid. A recent FCC notification also signaled imminent direct-to-cell operations in the Philippines with Smart Communications, with local authorizations obtained. Meanwhile, the FCC separately advanced proposed rules covering an additional 482 MHz for satellite-to-phone services and simpler spectrum leasing. 

How Do Retail Traders Feel About ASTS?

On Stocktwits, retail sentiment for ASTS slipped to ‘bearish’ from ‘neutral’ levels a day ago amid ‘low’ message volume.

One user said, “$ASTS NO LAUNCHES SINCE AUGUST 5 AND NO SET DATE FOR NEXT LAUNCH WILL HAVE A NEGATIVE IMPACT ON UPCOMING Q3 EARNINGS REPORT, AND PROJECTED REVENUE FOR 2026 WILL BE MUCH LESS THAN FORECASTED.”

Another user said, “ASTS will need more cash to extend the deadline.” 

ASTS stock has declined 44% year-to-date.

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