Why Verizon Stock Just Crashed
SpaceX is buying spectrum, and Verizon investors are nervous.
Overview
Elon Musk's Space Exploration Technologies (NASDAQ:SPCX) announced a major deal to buy spectrum for satellite communications services yesterday. SpaceX investors seem pleased with the news, and its stock is up 1.3%. But Verizon (NYSE:VZ) investors aren't at all happy.
Verizon stock is down 9.3% as of 12:15 p.m. ET.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.