SpaceX Agrees to $8 Billion Spectrum Deal, Telecom Carriers Tumble

SPCX closed at $162.59 on October 9, 2026, up 1.26% from the prior close of $160.57, on volume of 81,766,348 shares.

Executive Summary

SPCX gapped up to open at $165.34, touched a high of $166.38, then faded to a close of $162.59. The stock finished above the prior close but below its open, so the day's candle is red even though the daily change is positive. The close sits at $162.59 against the $135.00 IPO offer price, and $1.64 above the first-day close of $160.95.

The headlines that day centered on SpaceX's announced plan to acquire an 800 MHz low-band spectrum portfolio from Grain Management. The Motley Fool puts the price at $8 billion. Benzinga reported sharp declines in T-Mobile, AT&T and Verizon, and gains in tower owners such as Crown Castle. A Motley Fool article also flagged October 9 as a share-unlock date, citing roughly 319 million early-release-eligible insider shares. Headlines also mentioned analyst coverage, including Barclays and TD Cowen. Despite the heavy news flow, volume came in below the running average, and the stock gave back part of its early gains.

News

1. Treasury Yields Reach 24-Year Highs, Telecom Stocks Sell Off: This Week On Wall Street

S&P 500 tops 7,800 as Treasury yields hit 24-year highs. AT&T, Verizon and T-Mobile sank thanks to SpaceX. Bank earnings and CPI are next. (Benzinga, Oct 9, 3:05 PM ET)

2. ASTS Stock Drops 15% on SpaceX Threat: This ETF Holds Both Sides of the Satellite War

ASTS stock plunges 15% as SpaceX expands Starlink. Could gains in SpaceX shares offset ASTS-driven losses in the Procure Space ETF? (Benzinga, Oct 9, 2:34 PM ET)

3. QUICK SPARK: AT&T Sinks 11% In Worst Day Since 2000 As SpaceX Spectrum Deal Rattles Carriers

AT&T stock falls 11%, on track for its largest one-day loss since December 2000, after SpaceX agrees to buy nationwide low-band spectrum. (Benzinga, Oct 9, 2:17 PM ET)

4. Elon Musk Just Delivered Great News to SpaceX Investors and Bad News to Traditional Telecom Investors

SpaceX announced plans to acquire a low-band spectrum portfolio from Grain Management for $8 billion, completing its spectrum needs for mobile service. The low-band spectrum enables signals to travel through walls and solid structures, allowing Starlink to enhance its mobile service capabilities. While this threatens traditional telecom carriers, analysts expect SpaceX won't materially impact their operations until at least 2029. (The Motley Fool, Oct 9, 1:37 PM ET)

5. Stock Market Today: Nasdaq 100 Rebounds From OpenAI Scare, T-Mobile Tumbles 12%

The Nasdaq 100 recovers from Thursday's OpenAI-driven selloff while T-Mobile sinks 12% on SpaceX's spectrum deal and the 10-year yield holds near 5.26%. (Benzinga, Oct 9, 1:27 PM ET)

6. QUICK SPARK: SpaceX Spectrum Deal Triggers T-Mobile’s Worst Day Since 2013

T-Mobile stock falls 13%, its steepest drop since 2013, after SpaceX agrees to buy nationwide low-band spectrum for Starlink Mobile. (Benzinga, Oct 9, 1:26 PM ET)

7. Why T-Mobile Stock Just Crashed

SpaceX has purchased spectrum from Grain Management to launch Starlink Mobile as a major U.S. mobile carrier, causing T-Mobile stock to plunge 13%. The move transforms SpaceX from a T-Mobile partner providing emergency coverage into a direct competitor, threatening T-Mobile's expected growth advantage over AT&T and Verizon. (The Motley Fool, Oct 9, 1:21 PM ET)

8. Gold Rises Over 1%; US Consumer Sentiment Falls

U.S. stocks rose Friday, led by the Dow and Nasdaq; sentiment hit a five-month low, while Veea and WF Holding surged and T-Mobile fell. (Benzinga, Oct 9, 1:17 PM ET)

Price Action

Metric	Value
Open	$165.34
High	$166.38
Low	$160.61
Close	$162.59
Change vs prior close	+1.26% (prior close $160.57)
Volume	81,766,348
Intraday range	$5.77
Close vs IPO	+20.4% vs the $135.00 offer price; +$1.64 vs the $160.95 first-day close

The open of $165.34 was $4.77 above the prior close. Buyers could not hold that gap. Price reached $166.38 early in the range, then trended down toward the $160.61 low and recovered slightly into the close. The close finished $2.75 below the open and $1.98 above the session low.

Volume of 81,766,348 was higher than the prior session's 71,977,869. It was still below the average to date of 95,263,860, a ratio of 0.76. The gap on a major news day drew attention, but participation did not expand beyond the stock's typical level.

Over the last six sessions the close went from $148.07 (October 1) to $158.96, $171.09 and $171.92, then back to $167.60, $160.57 and now $162.59. The stock is roughly in the middle of the swing from its recent high to the early-October base.

Takeaway: SPCX gained 1.26% on the day but closed below its open after a gap up, with volume under average.

Technicals

SPCX has traded for only a few months. The 14-day RSI and the 20-day and 50-day moving averages can now be computed, but they rest on a short history that includes a large post-IPO decline and rebound, so they are less reliable than they would be on a mature stock. The 200-day moving average is not yet available. The read below leans on price structure, candle shape, volume and real levels, with the indicators as secondary context.

Trend

The longer-term picture is a post-IPO peak followed by a deep drawdown and a recovery. The highest close in the record is $201.80 on June 16. The lowest close is $108.27 on August 5. Since then the stock has rebuilt to the low $150s through September and pushed higher in early October.

Short-term averages sit below the current price. The 5-day simple average is $166.75, which is above the close. The 5-day exponential average is $163.00, nearly at the close. The 10-day simple average is $158.64, the 20-day is $154.40 and the 50-day is $144.24. The price is above the 10-, 20- and 50-day averages and below the 5-day simple average, which fits a stock that has pulled back from a sharp advance. The 14-day RSI is 58.35, a mid-range reading, neither stretched nor weak. This reading is from a short history and should be weighted lightly.

Candle read

The body is -2.75, so the session closed below its open. The upper wick is 1.04 and the lower wick is 1.98, on a total range of 5.77. The close location is 0.34, meaning the close sat about a third of the way up the day's range. That is in the lower half of the range, a sign that sellers had the better of the session after the opening gap. The longer lower wick shows buyers did step in near $160.61, and the close recovered above that low. Combined with below-average volume, the candle reads as indecision after a sharp gap, with a mild bearish lean inside the session.

Support levels

• $160.61: today's low, the nearest support.
• $160.57 and $160.95: the prior close and the IPO-day close, which sit almost on top of the day's low and form a tight cluster. $160 is a nearby round number.
• $158.64: the 10-day simple average.
• $154.40: the 20-day simple average.
• $148.07: the October 1 close, the base before the early-October advance.
• $144.24: the 50-day simple average.

Resistance levels

• $165.34: today's open, where the gap-up attempt started.
• $166.38: today's high.
• $166.75: the 5-day simple average.
• $167.60: the October 7 close.
• $170 as a round number, then $171.09 and $171.92, the October 5 and 6 closes and the recent peak.

Momentum interpretation

Bull scenario: price holds the $160.57 to $160.95 cluster and recovers the $165.34 open. Acceptance above $166.38 and the 5-day average at $166.75 would put the $167.60 close in play, then the $171 to $172 area.

Bear scenario: a close below $160.57 would break the prior close, the IPO-day close and today's low together. The next levels are the 10-day average at $158.64, then the 20-day average at $154.40.

Neutral scenario: price stays between $160.57 and $166.38 while volume remains under the average of 95,263,860. That would extend the consolidation after the early-October run.

Trading Takeaway

The stock's reaction to a heavy news day was muted. It opened strong, faded to a red candle, and held a cluster of support just above $160. Volume was below average, and the unlock date and the many telecom-related headlines add event risk that price alone does not capture. The structure is that of a pullback inside a recovery from the August low, not a confirmed breakdown or breakout.

Key levels for the next session: support at $160.61, $160.57 and $160.95, with $158.64 below. Resistance at $165.34, $166.38 and $166.75, with $167.60 above. A move through either side of that band, ideally on volume closer to the 95 million average, would give a clearer directional signal.

Sources

1. Treasury Yields Reach 24-Year Highs, Telecom Stocks Sell Off: This Week On Wall Street (Benzinga)
2. ASTS Stock Drops 15% on SpaceX Threat: This ETF Holds Both Sides of the Satellite War (Benzinga)
3. QUICK SPARK: AT&T Sinks 11% In Worst Day Since 2000 As SpaceX Spectrum Deal Rattles Carriers (Benzinga)
4. Elon Musk Just Delivered Great News to SpaceX Investors and Bad News to Traditional Telecom Investors (The Motley Fool)
5. Stock Market Today: Nasdaq 100 Rebounds From OpenAI Scare, T-Mobile Tumbles 12% (Benzinga)
6. QUICK SPARK: SpaceX Spectrum Deal Triggers T-Mobile's Worst Day Since 2013 (Benzinga)
7. Why T-Mobile Stock Just Crashed (The Motley Fool)
8. Gold Rises Over 1%; US Consumer Sentiment Falls (Benzinga)
9. What's Going On With Snap Stock Friday? (Benzinga)
10. Crown Castle Stock Jumping as SpaceX Acquires 800 MHz Spectrum (Benzinga)
11. SpaceX Just Spooked Verizon. The Sneaky Winners May Be America's Cell-Tower Owners (Benzinga)
12. Michael Saylor Calls Elon Musk's SpaceX Vision 'Bullish': Could Bitcoin Benefit? (Benzinga)
13. SpaceX Could Become a Massive New Customer for Cell Tower Giants — Stocks Surge (Benzinga)
14. SPCX to Acquire 800 MHz Spectrum for Superior Network: Buy the Stock? (Zacks Investment Research)
15. SpaceX Is Coming For Telecom Companies: AT&T, Verizon And T-Mobile Tumble (Benzinga)
16. Barclays Initiates Coverage On SpaceX with Overweight Rating, Announces Price Target of $254 (Benzinga)
17. TD Cowen Reiterates Buy on SpaceX, Maintains $200 Price Target (Benzinga)
18. Elon Musk Says SpaceX Can Outgrow Earth. The First Victim May Be Your Phone Bill (Benzinga)
19. Verizon, AT&T, T-Mobile Stocks Slide as SpaceX Expands Wireless Ambitions (Benzinga)
20. Elon Musk Says SPCX Could Be Worth 'Orders of Magnitude More' Than the Entire Earth Economy: 'Super Crazy' (Benzinga)
21. Why Is SpaceX Stock Surging Friday? (Benzinga)
22. If You're Worried About an AI Bubble, Here's the Tech Stock Portfolio I'd Build (The Motley Fool)
23. SpaceX's Fleecing of Retail Investors Continues: Up to $51 Billion in Insider Shares Unlock Today, Oct. 9 (The Motley Fool)
24. Ahead of DAL Earnings, Elon Musk Mocks Delta's Starlink Snub: 'Accessing the Internet Is Utterly Impossible' (Benzinga)
25. Dan Ives Updates AI 30: Adds DELL, SPCX While Dropping ORCL and PEGA Ahead of IVES Rebalance (Benzinga)
26. Bill Gates Says Aviation Is One of the Hardest Sectors to Decarbonize Amid Skyrocketing Fuel Costs—Here's His Solution (Benzinga)
27. Elon Musk A 'National Treasure,' Says Trump: President Compares Tesla CEO With Edison As He Awards National Medal of Science (Benzinga)
28. Trump Bought Up to $5 Million of SpaceX Bonds Days Before Signing New Space Transportation Policy (Benzinga)
29. Stock Market: Will S&P 500 Open Up or Down Today? (Benzinga)
30. Elon Musk Calls SpaceX's 800 MHz Spectrum Deal 'An Earthquake' as Starlink Takes Aim at US Carriers (Benzinga)
31. Jim Cramer Calls Elon Musk Acquiring Lower Frequency Spectrum 'HUGE' for SpaceX; Chamath Palihapitiya Says It's A 'Very Big Deal' (Benzinga)
32. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Market data and news are drawn from third-party sources and may contain errors or delays. SPCX has a short trading history, and technical readings on it carry limited reliability. Verify all figures independently before making any financial decision.