U.S. carriers tumble after report SpaceX is negotiating for 80,000 cell sites
Shares of T‑Mobile, AT&T and Verizon fell on Oct 23 after Bloomberg reported that SpaceX is in talks to secure access to at least 80,000 U.S. cell‑tower sites, a move that could create a fourth national wireless carrier. The news sparked a pre‑market sell‑off of roughly 5%‑5.5% for T‑Mobile, about 5% for AT&T and 4%‑4.5% for Verizon. Executives at AT&T and Verizon downplayed the threat, while analysts cut price targets on the competitive risk.
Why it matters
The price declines reflect immediate market pressure on the three carriers and may widen as investors assess the competitive threat of a new nationwide rival. AT&T’s disclosed $2.6 billion impairment and higher debt also weigh on its valuation.
Key facts
- 1T‑Mobile stock fell about 5.5% pre‑market on Oct 23. investing.com
- 2Verizon stock fell 4.46% to $43.18 pre‑market. investing.com
- 3AT&T stock fell 5.10% to $21.58 pre‑market. investing.com
- 4T‑Mobile shares fell 5% to $150.74 during morning trading. 247wallst.com
- 5AT&T shares fell 4% to $21.79. 247wallst.com
- 6AT&T reported a $2.6 billion impairment charge in Q3 2026. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.