Breaking from Wall Street: telecom just had its worst day in decades.
Verizon dropped 8.75% in a single session, its worst day since 2002. That's before the iPhone even existed.
T-Mobile got hit even harder: down 13.27%. AT&T wasn't far behind, sliding 9.81%.
The trigger? SpaceX just announced a nationwide spectrum deal.
Translation: the company that sends rockets to space is now coming for the exact business that carriers thought was untouchable.
Spectrum is basically the invisible 'road' your calls and data travel on. Carriers have spent decades acting like they own that road outright.
If SpaceX can use its Starlink satellites to beam connectivity directly to phones at national scale, towers and cables suddenly have a rival they can't out-build: space itself.
Investors did the math fast and bailed just as quickly.
This isn't just a stock story. It's a question of who actually owns the sky over your head.
🔗 Original Source & Reference: https://www.techmeme.com/261009/p23#a261009p23
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