SpaceX's $8 Billion Spectrum Deal: Why Starlink Mobile Just Knocked 6% Off Verizon, AT&T, and T-Mobile

SpaceX just agreed to buy nationwide low-band spectrum for a reported $8 billion, and Verizon, AT&T, and T-Mobile each dropped about 6% after hours. No customer switched carriers on Thursday. So what exactly did Wall Street reprice? The answer is the scarcity that has protected America's 3 wireless giants for decades, and the FCC now decides whether that protection holds.