Shares of AST SpaceMobile, Inc. (ASTS) are experiencing a significant pre-market plunge on Tuesday, dropping 5.15% following the company's disappointing first-quarter financial results and amid broader market volatility.

The steep decline comes after AST SpaceMobile reported a revenue miss for the first quarter, initially causing a 3.1% drop in pre-market trading. As the pre-market session progressed, the selling pressure intensified, with the stock's losses expanding to 5.15%. This downturn is particularly notable as it follows a 5.4% increase at Monday's close, highlighting the rapid shift in investor sentiment.

The pre-market plunge in AST SpaceMobile's stock price reflects investors' disappointment with the company's financial performance and possibly concerns about its growth prospects. As the market digests the Q1 results and reassesses the company's valuation, traders will be closely watching how the stock performs when regular trading begins and whether the current negative trend continues throughout the day.