✉news ScienceSpace first seen 17 h ago, last 8 min ago, peak #1

SpaceX expansion knocks telecom stocks lower

Original: Elon Musk’s growing SpaceX empire sends AT&T, Verizon and T-Mobile shares plunging

Shares in AT&T, Verizon and T-Mobile dropped after SpaceX signaled ambitions to expand its direct-to-cell satellite service, raising concerns the telecom giants could face new competition from Elon Musk's growing space company. Investors sold off the carriers' stock as SpaceX's push into mobile connectivity was seen as a potential threat to their core business.

Why now: SpaceX's entry into mobile connectivity threatens the telecom carriers' business model, spooking investors.

Elon MuskSpaceXAT&TVerizonT-Mobile

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• Elon Musk’s growing SpaceX empire sends AT&T, Verizon and T-Mobile shares plunging · NBC News

API: https://socialmediatrends-api.osmike.com/v1/trends/1643008