U.S. Stocks in Motion | SpaceX Spectrum Deal Spurs Demand for Communications Tower Leasing; Crown Castle (CCI.US) Surges Over 11%

Zhitong Finance APP has learned that on Friday, Crown Castle (CCI.US) surged more than 11%, and American Tower (AMT.US) rose more than 7%. On the news front, on October 8, SpaceX agreed to acquire nationwide low-band spectrum for about $8 billion, aiming to improve satellite mobile communications services; the related spectrum can enhance signal penetration, and the expansion of terrestrial networks may still drive demand for communications tower construction. This deal has led the market to expect that SpaceX may in the future lease spare space on existing communications base stations to support its ambition of becoming a major U.S. wireless carrier. It is reported that Crown Castle owns, operates, and leases approximately 40,000 cellular communications towers in the United States, providing infrastructure for wireless connectivity; SpaceX's spectrum deal has increased the relevance of its terrestrial network buildout to tower leasing.