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Telecom stocks are facing some pressure after SpaceX (SPCX) closed a low-band spectrum deal for its Starlink satellite. Yahoo Finance Executive Editor Brian Sozzi hypothesizes what could come next from SpaceX and its competitors in the wireless telecom space.
SpaceX announced the spectrum deal Thursday, as the company aims to push deeper into the telecom market through its Starlink service.
SpaceX just locked up a nationwide low-band spectrum portfolio that AST SpaceMobile had been chasing, and the fallout for direct-to-device satellite stocks raises questions about who controls the airwaves needed to connect ordinary phones from orbit.