SpaceX Shares Close at $143.09 as FCC Begins Review of Spectrum Deal
Key Facts
SpaceX shares, trading under the ticker SPCX, closed at $143.09 on November 10, 2026, up from $142.07 in the previous session, according to EL7 data. On the same day, the U.S. Federal Communications Commission said applications to transfer control of spectrum licenses to Starlink Spectrum Holdings were acceptable for filing following an initial review. The action opened a regulatory pleading cycle, but does not represent final approval of the deal. The move places the license transfer application in the public review process, while final approval remains a condition for completing the agreement. Available closing data do not establish that the agency's action was the direct catalyst for the stock's move.
The proposed deal covers 546 paired licenses in the 800 MHz band, across frequencies of 817–824 and 862–869 MHz, according to Benzinga. The spectrum holdings span bandwidth of up to 14 MHz across 3,224 counties. The documents said the coverage area represents about 100% of the U.S. population, across the 50 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. This geographic reach makes the licenses central to a broad coverage plan, while the deal itself remains under regulatory review. The applications concern the transfer of control of these licenses to Starlink Spectrum Holdings, not a declaration that the transfer has been fully approved.
SpaceX says low-band spectrum will add a coverage layer to the Starlink Mobile signal, helping it penetrate obstacles, including walls, and provide service to devices indoors. The company says this layer is intended to address some of the connectivity limits the signal faces when physical obstacles are present. The company plans to combine its satellite constellation and terrestrial deployment in a single network architecture. SpaceX said completing the agreement requires final FCC approval, tying implementation of this plan to the outcome of the ongoing review. The plan therefore includes satellites for connecting devices and terrestrial infrastructure using low-band spectrum, while the announced deployment has yet to begin.
On the terrestrial infrastructure side, Qualcomm said Starlink Mobile will use Massive MIMO radio units, with 64 transmit paths and 64 receive paths. These advanced antennas are intended, according to the company, to support coverage, capacity and spectral efficiency across the terrestrial network. The equipment choice is tied to a multiyear agreement between Qualcomm and SpaceX, according to Axios. The report says the agreement includes deploying equipment at tens of thousands of cell sites, starting in 2027. This gives the network plan an implementation component beyond the licenses, as expanding the service will require installing equipment at terrestrial sites alongside reliance on satellites.
Axios reported on November 5 that SpaceX had struck a second spectrum deal valued at about $8 billion, following its acquisition of spectrum from EchoStar. In its coverage of the cellular network plan, it said SpaceX expects deployment to begin in 2027, but noted that achieving reliable nationwide cellular coverage will still take time. This timeline provides context for the implementation phase the company is targeting, but does not change the fact that the current deal still faces the agency's final review. Axios also described the competition as requiring physical infrastructure to transmit and receive signals. FCC approval and expansion of the network of terrestrial sites remain steps tied to turning spectrum holdings into a broad service.
The Federal Communications Commission set December 1, 2026, as the deadline for petitions and objections to the application, December 8 for responses to them, and December 15 for replies to those responses, according to the regulatory schedule cited by Benzinga. Opening these deadlines marks the start of the formal pleading stage for the application, allowing objections and responses to be submitted before the agency completes its review. These dates do not mean a final decision will be issued on any of them; the step announced on November 10 was limited to accepting the applications for filing after an initial review and opening a pleading cycle. SpaceX says the network will combine its satellite constellation and terrestrial deployment after final approval. The company says deployment is scheduled to begin in 2027, according to Axios.