🔴 AT&T is trading 5.4% down in pre-market after SpaceX’s spectrum deal spurs carrier selloff

AT&T is trading at $23.27, a -5.38% move, amid reported carrier selling after SpaceX’s spectrum deal.

• SpaceX agreed to acquire Grain Management’s nationwide 800 MHz spectrum portfolio, advancing Starlink Mobile’s U.S. wireless push; Reuters reported AT&T and other major carriers fell around 6% in extended trading.
• AT&T’s October 9 ex-dividend date may also affect shares; the announced cash dividend is $0.278 per share.
• Higher oil prices and Treasury yields added broader inflation concerns, but the reported carrier selloff followed SpaceX news.