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Shares of mobile phone service carriers fell in after-hours trading on Thursday after SpaceX (SPCX) announced it reached an agreement to acquire a nationwide low-band spectrum license portfolio.
Shares of cell tower operators rallied Friday on hopes that an expanding SpaceX Starlink wireless service will mean more business for them.
According to Elon Musk, this is "the last critical piece of the spectrum puzzle needed" for SpaceX to "provide complete phone coverage" in the US.