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SpaceX Acquires Frequency Portfolio; Telecom Stocks Fall

Barrons.com +2 ·

SPCX Space Exploration Technologies Corp
$160.57 -4.19%
View chart & analysis →
VZ +1.27% TMUS +2.18% T +1.63%
  1. 1SpaceX announced late Thursday that it is acquiring a nationwide low-band frequency portfolio.
  2. 2Shares of AT&T, T-Mobile, and Verizon fell in after-hours trading.
  3. 3AT&T CEO John Stankey said Starlink appears poised to provide good solutions in certain areas.

So what's the key point?

SpaceX has purchased new communication frequencies that can be used nationwide. Following this news, stock prices for telecom companies like AT&T and T-Mobile declined.

Source Barrons.com +2 · View original ↗

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