AST SpaceMobile Podcast

Bluebird 11-13 launch early Wednesday morning as $ASTS rebounds hard off the big market unwind.

Anpanman breaks down why AST SpaceMobile and the wider satellite sector may have found a bottom after Citadel absorbed Situational Awareness's liquidated book. He walks through SpaceX's crowded short interest and lock-up expiry dynamics ahead of its first earnings call, the accelerating Bluebird production cadence heading into the Block 2 Bluebird 11-13 launch, and an update on Grain Management's 800MHz spectrum testing with AST SpaceMobile. Anpanman also unpacks the direct-to-cell opportunity, the FCC timeline, and why he thinks a T-Mobile deal is fait accompli, closing out with a candid take on serial ASTS critic Lucky Stewie.

00:00 Introduction

00:21 Market sentiment and capitulation signals

02:51 Margin trading dangers and forced selling

05:08 Tax implications of trading around a core position

07:53 Bears and skeptics as a contrarian bottom signal

09:34 Situational Awareness book sale to Citadel

13:10 Macro risks: Iran, yen carry trade unwind

15:21 SpaceX short interest and borrow fee spike

17:03 SpaceX lock-up expiry and institutional demand

21:55 SpaceX Q2 earnings expectations and beat-and-raise setup

25:32 SpaceX earnings impact on the space sector

27:31 Bluebird 11-13 launch details and production cadence

29:02 Grain Management spectrum update

29:57 Lucky Stewie background and criticism of AST

38:03 T-Mobile deal outlook and closing thoughts

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/spacanpanman

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📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/

Batch Two is ready to launch, and Vodafone's CEO just confirmed $ASTS is worth it.

Plus: the $20B hedge fund blowup rattling markets, and a possible Golden Dome signal.

In this episode, Kook discusses the recent market turmoil surrounding Leo Ashenbrenner's leveraged hedge fund blowup and what it means for risk management when investing in AST SpaceMobile ($ASTS stock). The conversation covers ASTS's production ramp with Batch Two ready for launch and Batch Three following shortly after, along with updates on satellite spectrum deals, FCC filings, and direct-to-cell partnerships including Vodafone, Rakuten in Japan, and SafariCom. Kook also breaks down potential Golden Dome government launch contracts, Amazon's competing constellation filings, and why AST SpaceMobile's superior link budget gives it an edge over Starlink for direct-to-cell service.

00:00 Introduction and weekend recap

00:36 The Leo Ashenbrenner hedge fund blowup

08:13 Lessons on leverage and risk management

11:04 How Kook used leverage on $ASTS

19:25 Fundamentals: Batch Two ready, Batch Three next

21:03 Launch cadence and beta service later this year

24:01 $ASTS vs Starlink: link budget and TAM

28:52 Margarita de la Valle: worth us working on

30:26 Why size matters: 248 satellites vs competitors

33:26 Spectrum deals and the Scotiabank thesis

34:44 Unannounced announcements: J-LEO and Japan

37:47 Sovereignty and the global pattern of deals

39:00 Amazon's constellation and Golden Dome hints

42:27 SpaceX's MVNO rumors and Verizon speculation

44:49 FUD Review and staying disciplined

52:19 Closing thoughts and outlook for August

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/thekookreport

👕 Get the Gear: https://spacemob.printify.me/

📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/

A $45 billion hedge fund unwind rocked $ASTS this week.

Kook breaks down why Citadel was suddenly trading everywhere.

In this solo episode, Kook walks through the trading fallout from Situational Awareness's forced liquidation, and how Citadel emerged as the top trader in AST SpaceMobile ($ASTS), Rocket Lab, SpaceX, Redwire, Intuitive Machines and other satellite and momentum names. Kook explains how hedge fund deleveraging, margin calls and cross-holdings dragged ASTS stock down alongside T1 Energy, NBIS, IREN and SanDisk, even though AST SpaceMobile wasn't directly held in the fund's book. He also discusses how satellite and direct-to-cell companies could see a healthier setup now that leverage has been flushed from the system, with AST SpaceMobile's August catalysts still ahead.

00:00 Introduction

00:16 Questions About Yesterday's Thread

00:33 Citadel Spotted Trading T1 Energy

01:37 Checking Other Situational Awareness Holdings

04:38 Citadel Shows Up in AST SpaceMobile Trading

05:18 Citadel Active Across Robinhood and Coinbase Too

06:41 Why Citadel Would Hedge Beta Exposure

07:59 Rumors of Situational Awareness Unwinding

09:26 Lessons From the 2008 Financial Crisis Playbook

10:59 How Forced Liquidations Create Overswings

13:17 Word Travels Fast in Distressed Situations

15:47 A 10-Sigma Deleveraging Event

17:11 Hedge Funds Down Double Digits This Month

19:58 Risk-Reward Improves After the Selloff

21:09 Mental Health and Avoiding Margin

22:19 Cycles of Euphoria and Deleveraging Are Speeding Up

23:26 Closing Thoughts on Market Health and August Catalysts

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/thekookreport

👕 Get the Gear: https://spacemob.printify.me/

📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/

ASTS cratered from $133 to $56 in weeks. Anpanman explains the brutal deleveraging event behind the crash - and why fundamentals still win.

In this episode, Anpanman unpacks the recent market-wide deleveraging event that hammered ASTS stock and other high-beta names like Rocket Lab and memory stocks, explaining the difference between margin-driven selloffs and true fundamentals. He dives into swirling rumors around SpaceX potentially acquiring wireless spectrum or a carrier like Verizon or T-Mobile, and why that narrative may be a pressure tactic against the AT&T-Verizon-T-Mobile joint venture with AST SpaceMobile. Kook also covers upcoming catalysts for the satellite direct-to-cell company, including next week's Falcon 9 launch, Bluebird satellites 14-16 shipping, the Grain Management 800MHz spectrum deal awaiting FCC approval, the Rakuten J.Leo joint venture, and AST's August 10th earnings report. Throughout, he stresses the importance of avoiding margin leverage and staying grounded in fundamentals during volatile market conditions.

00:00 Introduction - market deleveraging event

01:01 Retail selling at fastest pace since Covid

05:00 Korea's economic culture and speculative trading

07:57 Margin, leverage and deleveraging explained

09:09 The AI arms race and CapEx sustainability debate

12:00 The human toll of leveraged losses

14:11 Warning signs: Virgin Galactic and speculative space stocks

16:00 Hindsight at ASTS's $133 high

18:42 How hedge funds 'gross up' leverage

23:14 Situational hedge fund blowup and memory stocks

26:41 Signs of capitulation and forced selling

29:49 Are we close to a bottom?

34:45 AST fundamentals: loved it at $130, love it at $56?

41:24 Semafor's SpaceX spectrum and carrier rumor

47:39 Why SpaceX won't buy Verizon or T-Mobile

58:01 AST SpaceMobile catalyst tracker and next week's launch

1:01:24 AT&T/Verizon/T-Mobile JV and Grain Management spectrum update

1:07:57 Q&A: short squeeze potential

1:09:57 Q&A: SpaceX earnings and lockup expiry impact

1:12:19 Q&A: leverage, psychology and market manipulation

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/spacanpanman

👕 Get the Gear: https://spacemob.printify.me/

This is not financial advice. Do your own research before making any investment decisions.

📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/

Stock got crushed last week, but ASTS production is ripping - Bluebirds 8, 9 and 10 fully deployed, satellites in assembly hit 42.

Kook breaks down a brutal week for ASTS stock, from Jacob Keaton's account blowup to why options and leverage are dangerous in a volatile satellite stock. He digs into the fundamentals still driving the AST SpaceMobile thesis: production ramping past 'production hell,' Bluebirds 8-10 fully deployed as the largest phased arrays in LEO, radar and AI edge computing hints from Abel, Verizon blocking a Starlink MVNO backdoor, and an FCC test on T-Mobile direct-to-cell spectrum. He also covers the Midland facility expansion, the closed $1 billion convertible bond, government PNT and GPS-backup opportunities, and dismantles a widely shared ASTS short thesis point by point.

00:31 Introduction and market recap

01:15 Jacob Keaton's account blowup lesson

03:06 Warning against options and leverage

06:00 Leverage cascades and forced selling across the market

07:45 Remembering ASTS's past blow-off tops at $60 and $100

11:28 Why the fundamentals still support the valuation

12:43 Addressing the paid pumper accusations

19:51 Production update - satellites in assembly and shipped

21:54 Bluebird 8, 9 and 10 fully deployed

23:47 Radar phased array and diverse launch vehicles

26:07 SpaceX AI edge computing speculation

27:47 ASTS vs Iridium constellation comparison

29:42 Kevin Chen's rip down thread breakdown

33:05 Starlink-Tesla mesh network threat

34:57 Ankush Bansal joins ASTS from Nokia

35:52 T-Mobile JV status and FCC spectrum test

39:42 Why T-Mobile's Starlink service has low usage

41:18 TAM expansion - weak signal vs dead zones

46:24 Midland facility expansion and convertible bond close

51:23 Debunking the ASTS short thesis

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/thekookreport

👕 Get the Gear: https://spacemob.printify.me/

This is not financial advice. Do your own research before making any investment decisions.

Amazon just filed for a 5,000+ satellite direct-to-device constellation. Anpanman breaks down what it means for AST SpaceMobile and $ASTS.

In this episode, Anpanman covers Amazon's new FCC filing for a 5,000+ satellite direct-to-device constellation and what it means for AST SpaceMobile's Ligado and Viasat spectrum position. He dives into the economics of mid-band and C-band spectrum deployment, AT&T's comments on CapEx savings from satellite coverage, and the massive one-bar coverage gap that direct-to-cell technology could solve. Anpanman also shares updates on ASTS stock, the upcoming Bluebird launch expected the week of August 3rd, projected Q2 earnings timing, and a candid discussion on margin, options, and risk management during this volatile market.

00:02 Introduction and market reflections

02:07 Amazon's 5,000-satellite FCC filing

07:24 Ligado, Viasat and the spectrum poison pill

10:41 Mid-band and C-band spectrum economics

17:49 The one-bar signal opportunity

22:19 Hedge fund short sellers and the government business

25:39 Earnings date and launch timing

28:44 Investor Q&A: Amazon patents vs Starlink

30:36 Market volatility, rates and the Iran conflict

35:33 Margin, options and risk management lessons

52:10 Closing thoughts

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/spacanpanman

👕 Get the Gear: https://spacemob.printify.me/

This is not financial advice. Do your own research before making any investment decisions.

AT&T CEO reveals a CapEx savings story analysts missed - decommissioning towers via satellite. Plus: is T-Mobile's Starlink exclusivity actually a problem for $ASTS?

Anpanman returns from vacation to break down a massive week for AST SpaceMobile, covering earnings calls from all three major US carriers - AT&T, Verizon, and T-Mobile - and what their comments mean for ASTS stock and the direct-to-cell satellite opportunity. He unpacks AT&T CEO John Stankey's explicit comments on the CapEx savings story, Verizon shutting down the SpaceX MVNO backdoor theory, and the T-Mobile CEO's surprising statement that satellite coverage is now "table stakes" - a significant shift from the bear case narrative. Anpanman also digs into Abel's bullish Bluebird tweet, which revealed radar phased array capabilities, space edge AI computing, and peak data rates of 200 Mbps, and closes with his take on the Falcon 9 wind-down speculation and what it means for AST's launch cadence.

00:00 Introduction

00:34 AT&T Earnings - CapEx Savings Story and Coverage Strategy

02:00 AT&T Blocks Starlink MVNO and the One-Bar Opportunity

05:48 AT&T as Lead Partner and the JV Structure

06:09 Verizon Earnings - MVNO Shutdown and JV Commitment

07:53 T-Mobile Earnings - Exclusivity Comments and Table Stakes Shift

13:56 Abel's Bluebird Tweet - Radar, AI Computing, and 200 Mbps

26:44 Falcon 9 Wind-Down Speculation and Launch Cadence

33:13 Q&A - Price Action, T-Mobile Exclusivity, JV Structure, Launch Timing

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/spacanpanman

👕 Get the Gear: https://spacemob.printify.me/

This content is for informational and entertainment purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.

👋 Connect with the host on X: https://x.com/thekookreport

👕 Get the Gear: https://spacemob.printify.me/

Last week was a rollercoaster for $ASTS investors, and Kook doesn't sugarcoat it. In this raw and candid episode, Kook walks listeners through the emotional whiplash of watching the stock drop to $56, getting blindsided by a surprise $1 billion convertible bond offering, and then — after some serious reflection — realizing it might have been exactly the right move. From a 2:30am sick-kid wake-up to catching waves and firing up a Spaces session, this is Kook at his most unfiltered.

Kook breaks down the fundamental progress at AST SpaceMobile that the market seems to be ignoring: the successful unfurling of the first composite Bluebird satellite, batch two officially in motion, and spectral efficiency numbers coming in at roughly three times what was previously modeled. These aren't small data points — according to Kook, they represent a dramatic reduction in cost-per-bit and a clear signal that the "machine that makes the machine" is finally humming. The production hell phase, he argues, is essentially over.

Beyond the technical milestones, Kook dives deep into the mosaic of catalysts building around $ASTS — from the J.Leo project now formally referenced in a Reg FD filing with Rakuten, to strong circumstantial evidence pointing toward an imminent T-Mobile partnership as the Starlink exclusivity window closes. Kook also explores the sovereignty theme playing out globally, the FCC's proposed TAM expansion to include IoT and agricultural devices, and the intriguing possibility of an investment in a launch company. The picture he paints is one of a company on the cusp of multiple simultaneous inflection points.

Kook closes with a masterclass in investment psychology — why knowing what you own is the only real defense against momentum-driven volatility, why being early is both a gift and a curse, and why the pain of a 58% drawdown doesn't change the underlying thesis. If you've been rattled by the recent price action in $ASTS, this episode is required listening. The pot, as Kook puts it, might just be reaching a boiling point.

00:26 Introduction

01:57 AST SpaceMobile Fundamental Update: Bluebird Unfurling & Batch Two

03:16 Spectral Efficiency Breakthrough and What It Means for the Model

05:21 The Convertible Bond Reaction and Why Kook Changed His Mind

08:26 J.Leo Confirmed in Reg FD Filing and the Rakuten Connection

14:11 T-Mobile, Mosaic Investing, and Catalysts on the Horizon

21:05 TAM Expansion: FCC, IoT, Landlines, and Space-Based Data Centers

35:20 Investment Psychology: Know What You Own and Surviving the Drawdown

👋 Connect with the host on X: https://x.com/spacanpanman

👕 Get the Gear: https://spacemob.printify.me/

In one of the most raw and personal episodes yet, Anpanman opens up from the West Coast where he's attending the funeral of a close friend who passed from cancer. Rather than stay silent during a painful market drawdown, Anpanman chose to show up for the community — reminding listeners that financial loss, while real, is never worth more than your health, your relationships, or your life.

Anpanman shares deeply personal stories, including watching his father — a self-made immigrant entrepreneur — over-leverage into businesses he had no business entering during the easy-money era, ultimately losing nearly everything while quietly battling late-stage colorectal cancer. These stories aren't told for sympathy — they're told as hard-won wisdom for anyone who has ever confused paper wealth with real wealth, or let hubris push them into margin calls and outsized bets they couldn't afford.

The conversation covers practical investing principles Anpanman has lived by: never deploy margin in size, use options only with precise timing and price conviction, never chase losses to reclaim a previous peak, and always know your tax situation before year-end. Anpanman explains why the instinct to "make it back" after a drawdown is the single most dangerous mindset an investor can carry — likening it to going on tilt in a casino — and why true risk management only comes after you've felt the pain of losing a significant amount of money.

This episode is a must-listen for anyone feeling the weight of the current market environment. Anpanman closes with a message of genuine encouragement: financial mistakes are recoverable, health mistakes sometimes aren't, and if you're thinking about doing something drastic, reach out — because life is always worth more than a portfolio. Stay level-headed, stay invested in high-quality ideas, and keep your chin up.

00:26 Introduction & Why Anpanman Is on the West Coast

01:42 Life Perspective: Money Isn't Everything

03:45 The Danger of Hubris and Going on Tilt

06:13 Lessons from Anpanman's Father: Over-Leverage and Loss

13:38 The Worst Investing Mindset — Chasing Your Peak

17:16 Rules on Margin and Options

23:04 Korea Margin Accounts and the Dark Side of Volatility

34:26 Tax Planning, Closing Thoughts, and Market Outlook

👋 Connect with the host on X: https://x.com/spacanpanman

👕 Get the Gear: https://spacemob.printify.me/

In one of the most candid and unfiltered conversations to hit the AST SpaceMobile investing community, @spacanpanman & @thekookreport sit down for a raw, real-time debrief on everything that just happened — the convertible note offering, the Blue Origin setback, the unfurling of the first composite Block 2 satellite, and what it all means for long-term holders who've watched the stock get cut in half.

According to @spacanpanman & @thekookreport, the timing of the convert wasn't random and almost certainly wasn't planned weeks in advance. The pair break down the credit market dynamics — specifically how SpaceX credit widening, a flood of new convert issuance from the Mag 7, and a cheapening convert market created a narrow window that Scott Wisniewski and the AST team had to act on decisively. Add in the Blue Origin launch pad explosion that knocked out a key launch partner for months, and suddenly the decision to raise now rather than later starts looking a lot less like a betrayal and a lot more like sound capital management under pressure.

@spacanpanman & @thekookreport also dig deep into the strategic picture that most retail investors aren't fully pricing in — from the J-Leo advanced discussions disclosed for the first time in a Reg FD filing, to the Golden Dome opportunity quietly signaled by Scott months ago, to the prisoner's dilemma the US carrier JV is creating for every major MNO globally. The argument is simple but powerful: in a world where Starlink is being seen as a competitive threat to fixed wireless and mobile, no serious telco is going to willingly hand them their customer base. That structural shift changes the urgency of the race entirely.

This episode is equal parts market analysis, investor therapy, and long-term conviction stress test. @spacanpanman & @thekookreport close with a reminder that this stock has moved 70% in ten days before — and the catalysts in front of it, from imminent launch to definitive MNO agreements to Golden Dome disclosures, are as real as they've ever been. If you've been shaken by the dilution, the noise, or the trolls, this conversation is the reset you need.

00:26 Introduction & Near-Miss on the Freeway

00:55 Why They're Having This Conversation on Air

01:15 Convert Market Dynamics & SpaceX Credit Widening

04:22 The Capped Call Structure and Cost of Capital Math

06:26 Why Now? Blue Origin, Supply Windows, and Capital Strategy

13:50 The JV, MVNO Prisoner's Dilemma & Starlink's Real Threat

23:26 First Composite Block 2 Satellite Unfurled — A Genuine Milestone

38:26 Spectrum Strategy, Golden Dome, and What Comes Next