Verizon Communications (VZ) Faces A Starlink Threat, Is It Trading At An 8% Discount?

Verizon Communications (VZ) just found itself facing a fresh competitive threat after SpaceX agreed to acquire a nationwide low-band 800 MHz spectrum portfolio to support its Starlink Mobile service. For context, Verizon Communications shares closed at US$46.35 after a 1-day share price gain of 1.27%, yet the stock is still down about 8.1% over the past month as investors digest the SpaceX spectrum news and other headlines. That pullback sits against a 90-day share price return of 10.0% and a year-to-date share price gain of 14.4%. Longer term momentum has been stronger when dividends are included, with a 1-year total shareholder return of 23.2% and a very large 3-year total shareholder return of about 8x.