StocksMediumUpdated•Originally published 9 October 2026•Updated 9 October 2026•
1 min read
US Telecom Stocks Slump as SpaceX Expands Wireless Ambitions
Key Facts
1Shares of AT&T, Verizon, and T-Mobile fell approximately 7% in premarket trading following news of a SpaceX spectrum deal.
Shares of AT&T, Verizon, and T-Mobile fell approximately 7% in trading. Benzinga reported that the sell-off followed news of a spectrum deal involving SpaceX, which has raised investor concerns over the market share of traditional wireless providers.
AT&T (T) was trading at $22.87 on October 9, 2026, representing a 7% decline. This follows a session where Verizon (VZ) closed at $46.35 on October 8, 2026, as the expansion of SpaceX into the wireless spectrum is perceived as a direct competitive threat to established US telecommunications giants.