GgoogleUS first seen 2 d ago, last 1 d ago, peak #1
SpaceX phone plans knock telecom stocks
Original: space x
Telecom stocks fell sharply after reports of SpaceX's plans to expand its direct-to-cell network in the United States, with Verizon suffering its worst single-day stock decline since 2002. Investors are worried that satellite-based mobile service could intensify competition for traditional cell carriers. Other telecom providers also saw their shares decline.
Why now: Investors fear SpaceX's satellite network will disrupt the U.S. mobile carrier market.
Evidence
- SpaceX’s $750 Billion Rally Breaks Stock Out of Post-IPO Funk · Bloomberg.com
- Verizon posts worst day since 2002 as SpaceX U.S. network plans whack cell provider stocks · CNBC
API: https://socialmediatrends-api.osmike.com/v1/trends/1709933