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Barchart
Wajeeh Khan

An $8 Billion Reason Why SpaceX Stock Is Up Today

SpaceX SPCX Grain Management Starlink Wall Street

SpaceX (SPCX) shares are extending gains on Friday as investors welcome an $8 billion spectrum deal that could significantly expand the giant’s ambitions in the wireless communications market. SPCX has agreed to acquire Grain Management’s nationwide portfolio of low-band (800 MHz) wireless spectrum licenses.

While the deal has yet to receive regulatory approval, SpaceX stock opened about 4% higher today.

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