StocksMedium•9 October 2026•
1 min read
SpaceX Telecom Expansion Pressures Verizon and AT&T Shares
Key Facts
1SpaceX shares are rising as investors worry the aerospace company will compete directly in the telecom sector.
2Shares of major telecom providers Verizon and AT&T fell due to the potential competitive threat from Elon Musk's company.
SpaceX shares are rising as investors worry the aerospace company will compete directly in the telecom sector. Barron's reported that shares of major telecom providers Verizon and AT&T fell due to the potential competitive threat from Elon Musk's company, as satellite capabilities challenge established carriers.
SPCX closed at $160.57 on October 8, 2026, reaching a day high of $167.6. During the same session, VZ closed at $46.35 and T finished at $24.87 on October 8, 2026, as the market reacted to the potential disruption of the traditional telecommunications industry.