U.S. cell tower stocks rise on SpaceX spectrum buy

Investing.com-- U.S. mobile tower stocks rose in aftermarket trade on Thursday after SpaceX (NASDAQ:SPCX) agreed to buy a nationwide block of low-band spectrum, which Bernstein said keeps alive the possibility that the satellite company builds a ground network. Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now » American Tower Corp (NYSE:AMT), Crown Castle International Corp (NYSE:CCI), and SBA Communications Corp (NASDAQ:SBAC)– three of the country's largest phone tower operators– rose between 3% and 4.5% in afterhours trade. SpaceX will pay about $8 billion in cash for the spectrum to private equity firm Grain Management, the Wall Street Journal reported on Thursday.