SpaceX Rises 4% After Deal for 800 MHz Spectrum, Pressuring Telecom Rivals
Updated
Updated · CNBC · Oct 9
SpaceX Rises 4% After Deal for 800 MHz Spectrum, Pressuring Telecom Rivals
3 articles · Updated · CNBC · Oct 9
Summary
SpaceX gained 4% in premarket trading after Grain Management agreed to sell it a nationwide 800 megahertz spectrum portfolio.
The purchase is expected to strengthen Starlink Mobile, raising the prospect of tougher competition for established wireless carriers.
T-Mobile fell 7%, AT&T nearly 6% and Verizon more than 5% as investors priced in that threat.
Tower operators moved the other way, with American Tower up 6% and Crown Castle almost 8%, suggesting the deal could also support network infrastructure demand.