US Telecom Stocks Fall on Hints of SpaceX Mobile Push
T AT&T Inc
$23.38 -0.89%
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- 1US wireless-telecom shares tumbled on Tuesday after SpaceX (SPCX) signaled plans to build out a full-scale mobile service.
- 2SpaceX acquired 65 MHz of spectrum from EchoStar (ECHO) for a total of $19.6 billion, and President Shotwell said the company will build a terrestrial network to win over Big-3 customers.
- 3Verizon (VZ) and AT&T (T) dropped more than 2% in pre-market trading on Wednesday, while T-Mobile (TMUS) fell 1.3%, as the prospect of direct competition from Starlink was raised.
This 3-line summary is compiled from the report below.
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