# AT&T, T-Mobile and Verizon Shares Drop 11% as SpaceX Starlink Mobile Push Begins

> SpaceX's Starlink mobile service gains spectrum to challenge telecom giants after Musk's acquisition.
- Title: AT&T, T-Mobile and Verizon Shares Drop 11% as SpaceX Starlink…
- Summary: SpaceX's Starlink mobile service gains spectrum to challenge telecom giants after Musk's acquisition. SpaceX acquired low-band spectrum to expand Starlink…
- Keywords: att, t-mobile, verizon, spacex, starlink, musk, spectrum, low-band, mobile service, telecom stocks, federal communications commission, money
- Source: mint — https://livemint.com/market/stock-market-news/att-t-mobile-and-verizon-shares-tumble-up-to-11-as-musk-s-spacex-makes-starlink-mobile-push-11791560971489.html
- Author: A Ksheerasagar
- Published: 2026-10-09T17:15:00+00:00
- Read time: 1 min
- Topics: att, t-mobile, verizon, spacex, starlink, musk, spectrum, low-band, mobile service, telecom stocks, federal communications commission, money
## US telecom stocks fall 11%
AT&T, T-Mobile and Verizon shares dropped 11% after SpaceX acquired low-band spectrum for Starlink mobile expansion.
## SpaceX acquires spectrum for mobile service
SpaceX secured low-band spectrum from Grain Management LLC to penetrate walls and provide indoor cellular coverage.
## Musk's spectrum acquisition plan
Musk stated low-band spectrum is the last critical piece needed for complete phone coverage across america via satellite.
## Spectrum benefits indoor coverage
Low-band frequencies penetrate walls and tree cover, addressing key technical challenges for satellite mobile networks.
## Starlink mobile service expansion
SpaceX plans to combine satellite-to-cell services with terrestrial networks after FCC approval for nationwide coverage.
## Traditional carriers face competition
Starlink's mobile service could challenge telecom giants by reducing reliance on cell towers for indoor coverage.
## Key takeaway

SpaceX acquired low-band spectrum to expand Starlink mobile service, causing AT&T, T-Mobile and Verizon shares to drop 11%.