Telecom Stocks Fall Up to 13% as SpaceX Buys Spectrum
Shares of Verizon, AT&T, and T-Mobile dropped up to 13% after SpaceX acquired low-band spectrum licenses from Grain Management. SpaceX plans to combine satellite and terrestrial networks to expand Starlink Mobile coverage. This move, along with regulatory approval for its next-gen satellite constellation, heightens concerns about disruption in the US telecom industry and challenges established wireless operators.
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