According to CoinMeta, the stock prices of Verizon, AT&T, and T-Mobile all fell by about 6% during after-hours trading on Thursday. The reason was that SpaceX announced its intention to acquire a nationwide portfolio of low-frequency spectrum. The seller in this transaction was the private equity firm Grain Management, which acquired these spectra from T-Mobile in August. SpaceX will pay an undisclosed price for them. Low-frequency spectrum can cover longer distances and penetrate indoors more effectively, aiding signal transmission through buildings and trees. FCC also approved SpaceX's application for 15,000 Starlink second-generation mobile satellites.