SpaceX Targets Land-Based Mobile, Pressuring Telecom Stocks

SpaceX plans land-based mobile services, Reuters reported. AT&T and T-Mobile shares dropped 2.2%–4% on August 4, 2026. SpaceX acquired 65 MHz of U.S. spectrum and global mobile assets in 2025, per its IPO roadshow — so this terrestrial push was telegraphed. A deep-pocketed rival now enters a market long shielded from competition.