Why the bot decided this
T-Mobile fell 13%, its steepest single-day decline since 2013, after SpaceX agreed to buy nationwide low-band spectrum for Starlink Mobile.
The article
QUICK SPARK: SpaceX Spectrum Deal Triggers T-Mobile’s Worst Day Since 2013 T-Mobile US Inc. (NASDAQ:TMUS) is not used to double-digit moves. Now the stock is having its worst day in 13 years. Shares fell 13% to $149 at midday Friday. That puts the stock on track for its steepest one-day drop since it began trading under the T-Mobile name in May 2013. The selling followed a deal by Space Exploration Technologies Corp. (NASDAQ:SPCX). SpaceX agreed Thursday to buy nationwide 800 megahertz spectrum licenses from Grain Management. These low-band airwaves travel long distances and pass through walls. SpaceX plans to pair them with its Starlink satellites. As a result, wireless carriers could face a new competitor. The deal still needs Federal Communications Commission approval. Peers AT&T Inc. (NYSE:T) and Verizon Inc. (NYSE:VZ) fell 11% and 10%, respectively. Image: Envato Elements