SpaceX buys nationwide 800 MHz spectrum from Grain Management to launch Starlink mobile service; Verizon plunges 8.75% for worst day since 2002, T-Mobile down 13.27%, AT&T falls 9.81% on Friday October 9, 2026

Verizon posts worst day since 2002 as SpaceX U.S. network plans whack cell provider stocks

TechPublished Fri, Oct 9 202612:26 PM EDTUpdated 43 Min AgoKey PointsTelecom stocks sank on Friday after Elon Musk's SpaceX announced an agreement to purchase a nationwide spectrum portfolio.Verizon, T-Mobile and AT&T all sold off while SpaceX climbed slightly. FCC Chair Brendan Carr told CNBC that competition in the spectrum market was "really good news for the American consumers."Telecommunications stocks sold off on Friday after Elon Musk's SpaceX announced an agreement to purchase a nationwi...