Telecom stocks drop as SpaceX acquires spectrum for Starlink

[Engineer inspecting communication towers for 5G and 6G network deployment] Thx4Stock/iStock via Getty Images SpaceX (SPCX [https://seekingalpha.com/symbol/SPCX]) is set to acquire a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band, the company said Thursday. The Elon Musk-led space company will pay about $8B in cash for the assets to the seller, private-equity firm Grain Management, the _Wall Street Journal _reported, citing people familiar with the matter. Telecom shares dipped in after-hours trading, with T-Mobile (TMUS [https://seekingalpha.com/symbol/TMUS]), Verizon (VZ [https://seekingalpha.com/symbol/VZ]), and AT&T (T [https://seekingalpha.com/symbol/T]) all down roughly 6%.