Crown Castle jumps on report it is in SpaceX tower talks
+9.06% to $85.97 from $78.83
What moved CCI
- Shares surged after Bloomberg reported SpaceX is in talks with Crown Castle, among other tower owners, for access to at least 80,000 cell sites nationwide to support a new wireless carrier.
- Bernstein analyst Laurent Yoon called a commitment of that scale a potential ‘point of no return’ for SpaceX’s carrier ambitions.
- On its own earnings call, Crown Castle’s CEO said the company is in discussions with ‘all parties’ interested in site access but declined to confirm specific customers.
Sources: Bloomberg · Yahoo Finance