🔴 T-Mobile is trading 10.1% down after SpaceX agreed to acquire Grain’s spectrum portfolio

T-Mobile is trading 10.1% down at $154.03 after SpaceX agreed to acquire Grain Management’s nationwide 800 MHz spectrum portfolio, heightening concerns about competition from satellite-based mobile services.

• Reuters reported U.S. and European telecom shares tumbled after the deal, with T-Mobile among the carriers under pressure.
• The broader market is higher, with pressure concentrated across telecom stocks. The transaction remains subject to FCC approval.