SpaceX Pursues Boost Mobile Talks After Big Carriers Reportedly Balk

SPCX closed at $136.34 on November 2, 2026, up $1.62 (1.20%) from the prior close of $134.72. It traded between $135.72 and $142.05 on volume of 79,761,722 shares.

Executive Summary

SPCX rose early on Monday and then gave most of it back. The driver was a Washington Post report, carried by Benzinga and others, that SpaceX is in talks to buy Boost Mobile or use its network. The report described this as a possible back door into the $235 billion U.S. cellphone market. Benzinga reported that SpaceX is taking this route after Verizon, T-Mobile and AT&T reportedly said no. The Motley Fool tied the move to SpaceX's recent FCC approval for 15,000 direct-to-cell satellites and its $8 billion spectrum license purchase. The stock reached $142.05 intraday, about 5.4% above Friday's close. It finished at $136.34, near the bottom of the day's range.

Not all of the day's coverage was positive. Verizon CEO Dan Schulman said Starlink faces major hurdles in mobile and that Verizon will compete "ferociously." Bill Ackman said SpaceX may need to borrow up to $1 trillion for its AI compute buildout. Jim Chanos questioned SpaceX's cost math for orbital data centers. Separately, Elon Musk said Grok usage was throttled because costs were "unsustainably high." The session ended with a small gain after Friday's sharp drop, but the price action showed sellers active into strength.

News

1. Verizon's CEO Has a Warning for SpaceX and Its Mobile Plans

Verizon CEO Dan Schulman warns that SpaceX's Starlink will face significant challenges entering the mobile market, requiring hundreds of billions in terrestrial network investment over several years. Schulman pledges Verizon will compete 'ferociously' to protect market share. Despite investor concerns about SpaceX competition, Verizon posted strong Q3 earnings with record postpaid phone additions and trades at a cheap valuation with a 6.3% dividend yield. (The Motley Fool, Nov 2, 1:54 PM ET)

2. What's Going on With Taiwan Semiconductor Stock on Monday?

TSMC stock edges higher as global expansion accelerates and Elon Musk reconsiders giving the chipmaker a primary operating role in Texas's Terafab project. (Benzinga, Nov 2, 1:26 PM ET)

3. Mark Cuban Says Elon Musk Is Amazing and the ‘Best Entrepreneur of Our Lifetime,’ But He’s a Salesman — ‘He’s Gotta Sell What He’s Got to Sell’

Mark Cuban calls Elon Musk the best entrepreneur of their lifetime, but says his success comes down to salesmanship, fundraising and selling big ideas. (Benzinga, Nov 2, 12:00 PM ET)

4. Why Did SpaceX Stock Just Pop?

SpaceX stock surged 4.3% after reports that Elon Musk's company is in talks to buy Boost Mobile or use its network to enter the $235 billion wireless market. After being rejected by AT&T, T-Mobile, and Verizon, SpaceX is pursuing a 'back door' strategy through Boost Mobile, which itself leases network access from AT&T and T-Mobile. This move follows SpaceX's recent FCC approval for 15,000 direct-to-cell satellites and $8 billion spectrum license acquisition, positioning Starlink as a potential fourth major U.S. mobile carrier. (The Motley Fool, Nov 2, 11:45 AM ET)

5. Reported Earlier: "Elon Musk Says Grok Bot Was Throttled Because Costs Were 'Unsustainably High'" - TechRadar

(Benzinga, Nov 2, 11:28 AM ET)

6. Elon Musk's SpaceX Plan Swallows Nvidia's Entire $300 Billion Growth Forecast — And Then Some

Elon Musk wants 10 more gigawatts of Nvidia-powered AI computing. Run the numbers, and SpaceX alone tops Nvidia’s projected growth, leaving rivals squeezed. (Benzinga, Nov 2, 11:20 AM ET)

7. Nvidia and AMD Are Backing a $6 Billion AI Startup Taking on Grok

Nvidia and AMD Ventures backed Hark at a $6 billion valuation as the AI startup looks to challenge Grok with its personal assistant. (Benzinga, Nov 2, 10:44 AM ET)

8. SpaceX Launch Customer Varda Says a Single Flight Could Help Make Medicine for Millions

Varda says one SpaceX flight could produce drug crystals capable of supporting medicine for millions of patients. (Benzinga, Nov 2, 10:09 AM ET)

Price Action

Metric	Value
Open	$137.01
High	$142.05
Low	$135.72
Close	$136.34
Change vs prior close	+$1.62 (+1.20%)
Volume	79,761,722
Intraday range	$6.33
Close vs IPO	+$1.34 (+0.99%) vs $135.00 offer price; -$24.61 (-15.29%) vs $160.95 first-day close

SPCX opened at $137.01, above Friday's $134.72 close. It reached $142.05 on the Boost Mobile headlines, then sold off through the rest of the session. The close of $136.34 was below the open and only $0.62 above the day's low of $135.72. The bar was red even though the stock gained on the day. Volume was 79.8 million shares. That is below Friday's 123.1 million and below the to-date average of about 101.7 million. Monday's buying was lighter than the selling that drove Friday's drop.

Friday's $134.72 close was the lowest since August 20 ($134.00). Monday's close is just $1.34 above the $135.00 IPO offer price.

Takeaway: a headline-driven rally to $142.05 was almost fully reversed on below-average volume, and the stock closed barely above its IPO offer price.

Technicals

SPCX has fewer than 100 sessions of trading history. A 200-day moving average is not available. The 14-day RSI and the 20-day and 50-day averages can be computed, but they rest on a short, volatile history that includes the IPO-period spike. Treat them as context, not signals. Price structure, candle shape, volume and real price levels carry more weight here. For reference, the computed values are:

• RSI-14: 38.89
• SMA-5: $141.75
• EMA-5: $140.38
• SMA-10: $145.50
• SMA-20: $151.62
• SMA-50: $149.55

Trend

The short-term trend is down:

• On October 21, SPCX closed at $159.31. It has made mostly lower closes since then: $144.75, $147.49, $146.90, $148.58, $145.23, $143.89, $134.72, and now $136.34.
• Before that, the early-October run peaked at a $171.92 close on October 6 and faded through mid-October.
• The close is below every computed moving average, from the 5-day ($141.75) to the 50-day ($149.55).
• The wider picture is a range. Since early August, closes have mostly stayed between about $134 and $172. The low end of that range, around $134 to $135, is being tested now.

Candle read

The candle had a small red body (-$0.66) and a long upper wick ($5.05). The lower wick was short ($0.62), and the total range was $6.33.

• The close came in the bottom 10% of the day's range (close location 0.10).
• That makes the upper wick about 80% of the range.
• This is a classic rejection shape: buyers pushed price more than $5 above the open, and sellers took it back by the close.
• Coming after a sharp down day, it suggests the headline rally was sold rather than held.
• A single candle is not confirmation. The next session's follow-through matters.

Support levels

• $135.72: Monday's intraday low.
• $135.00: the IPO offer price, also the August 24 close. This is a key reference level.
• $134.72: Friday's close, the lowest close since August 20.
• $134.00: the August 20 close.
• $130.00: round number below the recent closing range.

Resistance levels

• $137.01: Monday's open. The close finished below it.
• $140.00 to $140.38: round number plus the 5-day EMA.
• $142.05: Monday's intraday high, where the rally was rejected.
• $145.50: the 10-day SMA, near the late-October closes of $145.23 and $143.89.
• $149.55 to $150.00: the 50-day SMA plus a round number.

Momentum interpretation

• Bull scenario: SPCX holds above $135.00 and reclaims Monday's $137.01 open. A close above $140.00 to $140.38 would show buyers can hold gains rather than fade them. Above that, $142.05 is the level that capped Monday's rally.
• Bear scenario: a close below $134.72 would set a new low since August. A close below the $135.00 offer price would also matter. Below that, the next reference levels are $134.00 and then $130.00. The long upper wick and the close near the low lean this way in the very short term.
• Neutral scenario: SPCX stays between $134.72 and $142.05 while the market waits for confirmation or more detail on the Boost Mobile talks. Volume compared with the to-date average would show whether either side is committing.

Trading Takeaway

Monday showed that the stock reacts to headlines but that sellers are still in control. The Boost Mobile reports pushed SPCX to $142.05, and the gain mostly disappeared by the close. Volume trailed both Friday's selloff and the to-date average. The stock is below all of its computed moving averages and is trading just above the $135.00 IPO offer price. That makes the $134.72 to $135.72 zone the main area to watch.

Key levels for the next session:

• Support: $135.72, $135.00, $134.72 and $134.00.
• Resistance: $137.01, $140.00 to $140.38, and $142.05.

How the stock trades around the $135.00 offer price is likely to shape the near-term tone. The same goes for any confirmed details on the Boost Mobile talks.

Sources

1. The Motley Fool — Verizon's CEO Has a Warning for SpaceX and Its Mobile Plans — https://www.fool.com/investing/2026/11/02/verizon-s-ceo-has-a-warning-for-spacex-and-its-mobile-plans/?source=iedfolrf0000001
2. Benzinga — What's Going on With Taiwan Semiconductor Stock on Monday? — https://www.benzinga.com/markets/tech/26/11/62790600/whats-going-on-with-taiwan-semiconductor-stock-on-monday-4
3. Benzinga — Mark Cuban Says Elon Musk Is Amazing and the 'Best Entrepreneur of Our Lifetime,' But He's a Salesman — https://www.benzinga.com/news/space/26/11/62786735/mark-cuban-says-elon-musk-is-amazing-and-the-best-entrepreneur-of-our-lifetime-but-hes-a-salesman-hes-gotta-sell-what-hes-got-to-sell
4. The Motley Fool — Why Did SpaceX Stock Just Pop? — https://www.fool.com/investing/2026/11/02/why-did-spacex-stock-just-pop/?source=iedfolrf0000001
5. Benzinga — Reported Earlier: "Elon Musk Says Grok Bot Was Throttled Because Costs Were 'Unsustainably High'" - TechRadar — https://www.benzinga.com/news/26/11/62785304/reported-earlier-elon-musk-says-grok-bot-was-throttled-because-costs-were-unsustainably-high-techrad
6. Benzinga — Elon Musk's SpaceX Plan Swallows Nvidia's Entire $300 Billion Growth Forecast — And Then Some — https://www.benzinga.com/markets/tech/26/11/62785016/elon-musk-spacex-plan-swallows-nvidia-growth-forecast
7. Benzinga — Nvidia and AMD Are Backing a $6 Billion AI Startup Taking on Grok — https://www.benzinga.com/markets/tech/26/11/62783303/nvidia-amd-hark-ai-startup
8. Benzinga — SpaceX Launch Customer Varda Says a Single Flight Could Help Make Medicine for Millions — https://www.benzinga.com/markets/prediction-markets/26/11/62781771/varda-space-medicine
9. Benzinga — Elon Musk Has an AI Problem: People Are Using Grok Too Much — https://www.benzinga.com/trading-ideas/long-ideas/26/11/62780113/elon-musk-grok-bot-costs
10. Benzinga — SpaceX Pursues Wireless Back Door After Verizon, T-Mobile, AT&T Reportedly Said No — https://www.benzinga.com/trading-ideas/movers/26/11/62778904/spacex-pursues-wireless-back-door-after-verizon-t-mobile-atandt-reportedly-said-no
11. Benzinga — Apollo Targets Europe's Growing Financing Needs With New Credit Platform — https://www.benzinga.com/markets/large-cap/26/11/62775159/apollo-targets-europes-growing-financing-needs-with-new-credit-platform
12. Benzinga — Jim Cramer Sees a Bigger Threat to Telecom Giants as SpaceX Courts Boost Mobile — https://www.benzinga.com/markets/equities/26/11/62772514/jim-cramer-sees-a-bigger-threat-to-telecom-giants-as-spacex-courts-boost-mobile-why-do-the-analysts-not-know-this-stuff-could-happen
13. Benzinga — President Trump Says U.S. Receiving Millions Of Barrels Of Oil From Venezuela; We Will Have To Protect Musk If SpaceX Is At Risk From Democrats — https://www.benzinga.com/news/26/11/62772444/president-trump-says-u-s-receiving-millions-barrels-oil-venezuela-we-will-have-protect-musk-if-space
14. Fiscal.ai — SpaceX in Discussions Regarding Potential Boost Mobile Deal — https://www.marketscreener.com/news/spacex-discusses-boost-mobile-deal-with-echostar-to-expand-into-wireless-market-ce785fd8d18af427
15. Benzinga — 'SpaceX is in talks to buy Boost Mobile or use its network' - Washington Post Exclusive — https://www.benzinga.com/m/26/11/62770500/spacex-talks-buy-boost-mobile-or-use-its-network-giving-musk-potential-backdoor-235-billion-cellphon
16. Benzinga — Jim Chanos Warns Elon Musk's Space Data Center Math Could Be Way Off — https://www.benzinga.com/markets/tech/26/11/62770400/jim-chanos-warns-elon-musks-space-data-center-math-could-be-way-off-5t-per-gw
17. The Motley Fool — You Can Do Better Than SpaceX: 2 Industrial Stocks to Buy Instead — https://www.fool.com/investing/2026/11/02/you-can-do-better-than-spacex-2-industrial-stocks/?source=iedfolrf0000001
18. The Motley Fool — Alphabet Missed Its Q3 Estimates, and I Couldn't Care Less — https://www.fool.com/investing/2026/11/02/alphabet-missed-q3-estimates-couldnt-care/?source=iedfolrf0000001
19. Benzinga — Bill Ackman Says Elon Musk May Need $1 Trillion for SPCX AI Buildout — https://www.benzinga.com/markets/tech/26/11/62769524/bill-ackman-says-elon-musk-may-need-1-trillion-for-spcx-ai-buildout-competing-at-sovereign-levels
20. Benzinga — 'I Have a Better Idea': Sanders Pitches Alternative to AI Data Centers He Says 66% of Americans Oppose — https://www.benzinga.com/markets/tech/26/11/62767908/bernie-sanders-ai-data-centers-affordable-homes-midterms
21. 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 comes from Alpaca Markets (SIP), and news items are attributed to their publishers. All of it may contain errors or delays. SPCX has a short trading history, and its technical readings carry limited statistical weight. Verify all information independently and consult a qualified financial professional before making any investment decision.