$SPCX
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• Elon Musk calls the approval the “last missing piece of the puzzle” for SpaceX’s cellular coverage.
• Following SpaceX’s spectrum purchase, U.S. telecom stocks come under heavy pressure.
• $VZ (+1.93%) Verizon: -5.1%
• $T (+1.07%) AT&T: -5.8%
• $TMUS (+0.47%) T-Mobile US: -5.8%
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Deutsche Telekom $DTE (+0.16%) could come under pressure, particularly due to its majority stake in T-Mobile US. In the long term, Starlink could increase competitive pressure on traditional mobile carriers.