🟢 American Tower is trading 8% up today as SpaceX spectrum deal lifts tower stocks

American Tower is trading at $179.74, up 7.80%, amid a broader tower-stock rally following SpaceX’s reported spectrum deal.

• SpaceX agreed to acquire Grain Management’s nationwide 800 MHz spectrum portfolio, reportedly valued at about $8 billion.
• Reuters reported American Tower and peers advanced 5% to 6%; investors see potential demand for terrestrial tower infrastructure as SpaceX expands its mobile ambitions.
• The deal was also reported to have lifted American Tower in extended trading, supporting the sector-catalyst explanation for the October 9 rise.