SpaceX Buys 800 MHz Cellular Spectrum From Grain Management to Launch Starlink Mobile
SPCX sits 57% above its 52-week low of $104.83.
Summary
SpaceX agreed to buy cellular spectrum licenses from Grain Management, its biggest move yet into the wireless carrier market. The licenses, around 800 MHz, are designed for terrestrial cellphone towers, not satellites. The acquired 800 MHz low-band spectrum portfolio from Grain Management is nationwide. Susquehanna raised its price target on SPCX and kept a Neutral rating. SpaceX plans to deploy Starlink Mobile after FCC approval, combining its satellite-to-mobile constellation with a ground network to compete with AT&T and Verizon. This follows last year's $17B EchoStar deal for satellite spectrum and a $2.6B purchase of ground-based licenses, but this new acquisition provides the tower-ready airwaves needed for a full-fledged network. The move escalates SpaceX's challenge to traditional telecoms, which have already formed defensive satellite partnerships.
Updated with a Wiseek News report · What changed
Updates
· Wiseek News — Susquehanna raised its price target on SPCX and kept a Neutral rating.
- The acquired 800 MHz low-band spectrum portfolio from Grain Management is nationwide.
At the time of this announcement, SPCX was trading at $164.20 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.2T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.