Jun. 24 at 6:37 PM
$ASTS still weirdly trades in sync with
$BIDU after 6+ months.
Feels less like fundamentals and more like algo / flow pairing at this point.
Key points:
Totally different businesses
Still moving together in stretches
Likely ETF + quant basket exposure
Why it matters:
Markets often group names by factor risk, not story
Once algos “link” them, price can ignore fundamentals short term
These correlations can last longer than expected, but usually don’t last forever
$ASTS here feels more like part of a flow basket than a standalone narrative.
