US telecom stocks reportedly fall as SpaceX holds wireless carrier talks
XLC•US telecom stocks fell in premarket trading after SpaceX reportedly discussed a nationwide wireless carrier program, including access to at least 80,000 US sites. Verizon fell 4%, AT&T 4.2% and T-Mobile 4.6%.
1. Telecom shares decline
US telecom stocks fell in premarket trading after SpaceX reportedly discussed a nationwide wireless carrier program with cellular infrastructure companies. SpaceX plans to secure access to at least 80,000 sites across the US and is in talks with Crown Castle, the report said.
2. Moves across the sector
Verizon fell 4%, AT&T 4.2% and T-Mobile 4.6%. Crown Castle gained 9.1% and American Tower rose 6.1%, while SpaceX shares added 1.5%. At the prior close, AT&T and T-Mobile were down 8.4% and 21.8% year to date, while Verizon was up 11%.
