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Original headline: Elon Musk’s SpaceX Now Controls 80% of the Race to Orbit
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Related tickers and likely impact
TSLA
• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/16/2026 | 354.67 |
| Change that session | -2.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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On October 8, SpaceX agreed to buy Grain Management's nationwide 800 MHz spectrum portfolio to help its Starlink Mobile service reach phones indoors; terms were not disclosed, though The Wall Street Journal put the price at about $8 billion in cash. Shares of T-Mobile, Verizon and AT&T each fell over 10% the next day, while SpaceX stock barely moved and trades near $146, about 31% below its record $211.39 close on June 16. In the second quarter, SpaceX's connectivity segment, which houses Starlink, posted revenue of $4.3 billion, up 66% year over year, and was the only segment with an operating profit; the Grain purchase still needs FCC approval. At a valuation of about $2 trillion, the $8 billion is under 1% of that, but trailing four-quarter revenue of about $23 billion leaves the stock above 80 times sales, and the company lost $4.8 billion in the first half of 2026. The author considers the stock still too pricey, noting that revenue from direct phone service is probably more than a year away and that third-quarter results are due October 20.
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