Verizon Communications is trading at $41.01, down 10.15% in live trading on October 9, 2026, as SpaceX’s agreement to acquire Grain Management’s nationwide 800 MHz spectrum portfolio raises concerns about stronger competition from satellite-based mobile services.
- Reuters reported the deal is valued at about $8 billion.
- Reuters reported U.S. and European telecom stocks tumbled after the news.
- Major U.S. indexes were higher, so broad market weakness does not explain the decline.