✉news BusinessMarkets first seen 2 d ago, last 2 d ago, peak #2
SpaceX move into direct-to-phone service hits US telecom stocks
Original: Elon Musk's SpaceX just made a huge play to challenge the phone industry, and AT&T, T-Mobile, and Verizon stocks are getting crushed
Elon Musk's SpaceX has made a major push to challenge the mobile phone industry, and shares of AT&T, T-Mobile and Verizon fell sharply in response. The move signals SpaceX's intent to compete directly with carriers, likely through satellite-based connectivity, raising concerns among investors about pressure on the traditional telecom business model.
Why now: Investors are dumping telecom stocks fearing SpaceX's satellite connectivity will disrupt the carriers' business.
Elon MuskSpaceXAT&TT-MobileVerizon
Evidence
- Elon Musk's SpaceX just made a huge play to challenge the phone industry, and AT&T, T-Mobile, and Verizon stocks are getting crushed · Yahoo Finance
API: https://socialmediatrends-api.osmike.com/v1/trends/1662617