SpaceX Spectrum Deal Triggers Sharp Sell-Off in Major US Telecom Stocks
SpaceX announced an agreement to acquire a nationwide low-band spectrum portfolio from Grain Management LLC, triggering a significant sell-off in major US telecom stocks. Verizon, AT&T, and T-Mobile shares dropped between 8% and 13% on October 9, 2026, as investors feared Starlink would disrupt the wireless market. The deal involves up to 14 megahertz of paired spectrum in the 800 MHz band and requires FCC approval. While SpaceX shares initially fell, they recovered to gain 1-2.5% in extended trading. The move signals SpaceX’s intent to compete directly with terrestrial carriers, despite recent industry efforts to collaborate on satellite coverage.