SpaceX Acquires Spectrum License, Impacting AT&T, Verizon, and T-Mobile Stocks
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
SpaceX announced a significant spectrum deal aimed at expanding its Starlink service into the U.S. telecommunications market. This move has resulted in a sharp decline in shares of major telecom providers, with Verizon experiencing its worst day since 2002 as investors react to the growing competition from SpaceX.
The acquisition of the nationwide spectrum portfolio positions SpaceX to challenge established players like AT&T, Verizon, and T-Mobile. As a result, telecommunications stocks faced their worst daily drops in over a decade, highlighting the market's concern over SpaceX's potential to disrupt the industry.
Sources
Every quote below is verbatim from the article it is attributed to.
“SpaceX investors are finally getting some reprieve after months of being whipsawed by volatility as the Elon Musk-led company’s stock breaks above the level it’s been stuck below since July.”
Bloomberg — SpaceX’s Wireless Threat Rises With Spectrum Deal“SpaceX announced the spectrum deal Thursday, as the company aims to push deeper into the telecom market through its Starlink service.”
CNBC — Verizon posts worst day since 2002 as SpaceX U.S. network plans whack cell provider stocks“SpaceX agreed to purchase a nationwide spectrum portfolio as it to pushes its Starlink service deeper into the U.S. telecommunications market.”
CNBC — SpaceX deal to acquire spectrum license hammers shares of AT&T, Verizon and T-Mobile“SpaceX is closing in on a crucial swath of spectrum needed to turn Elon Musk’s rocket, satellite and AI company into a “major mobile carrier,” setting the stage for a clash with stalwarts like T-Mobile US Inc., Verizon Communications Inc. and AT&T Inc.”
Bloomberg — Musk’s Bigger Test After Airwaves Is Building Costly Network“Telecommunications stocks saw their worst daily drops in over a decade.”
MarketWatch — As AT&T, Verizon and T-Mobile shares fall, Wall Street assesses the growing SpaceX threat
“CJ Haddad / CNBC: Verizon closed down 8.75%, its worst day since 2002, while T-Mobile fell 13.27% and AT&T 9.81% after SpaceX announced a nationwide spectrum deal on Thursday — ”
techmeme — Verizon closed down 8.75%, its worst day since 2002, while T-Mobile fell 13.27% and AT&T 9.81% after SpaceX announced a nationwide spectrum deal on Thursday (CJ Haddad/CNBC)“Starlink spectrum deal boosts Musk plan to beat AT&T, T-Mobile, and Verizon”
Ars Technica — Starlink spectrum deal boosts Musk plan to beat AT&T, T-Mobile, and Verizon“SpaceX has revealed its plans to become a major mobile carrier.”
engadget — SpaceX wants to become a 'major mobile carrier' with low-band spectrum acquisition
Earlier versions
- Oct 9, 6:16 PM — SpaceX Acquires Spectrum License, Impacting AT&T, Verizon, T-Mobile Shares (4/3)
- Oct 9, 8:40 PM — SpaceX Spectrum Deal Causes Major Stock Drops for Verizon, AT&T, and T-Mobile (4/3)