T-Mobile drops hardest among carriers on SpaceX spectrum purchase
-13.27% to $148.58 from $171.31
What moved TMUS
- T-Mobile shares fell 13.27% on Friday, the steepest decline among the major wireless carriers.
- The decline began in after-hours trading Thursday evening, when T-Mobile shares had already lost about 6%.
- SpaceX agreed to buy an 800 MHz spectrum portfolio from Grain Management for about $8 billion, a deal that requires FCC approval before it can close.
- Investors weighed the prospect of a fourth nationwide wireless competitor built around SpaceX’s Starlink network.
Sources: CNBC · The Wall Street Journal · Yahoo Finance