SpaceX shares slipped to $143 in late October, their lowest level since 15 October, as traders waited on a US Federal Communications Commission vote that would free up an extra 482MHz of spectrum for direct-to-device satellite services, Coingape reported on 28 October. Days later, on 2 November, Reuters relayed a Washington Post report that SpaceX has been discussing either buying Boost Mobile — the wireless brand run by US satellite TV and spectrum owner EchoStar — or gaining access to its network, according to shattered.io.
Key facts
- The FCC proposal would make an additional 482MHz available for direct-to-device satellite services, Coingape reported. The outlet gave the vote date as 29 October in one passage and 19 October in another.
- AT&T, Verizon and T-Mobile opposed the proposal, arguing that expanding the number of eligible bands could make them unavailable to 300 million users who depend on them, per Coingape.
- In a 23 October meeting with the FCC, SpaceX argued more spectrum would open additional frequencies for the company and give satellite networks more flexibility, Coingape said.
- SpaceX has committed nearly US$8 billion to acquire 800 MHz of mobile spectrum and holds FCC clearance for up to 15,000 direct-to-cellphone Starlink satellites, according to Simply Wall St on Yahoo Finance.
- Deutsche Bank raised its SpaceX target from $235 to $250 and kept a buy rating; Fitch Ratings maintained a BBB+ rating after a $40 billion financing deal for Nvidia chips, Coingape reported.
Why it matters
Both the spectrum vote and the Boost Mobile talks point the same way: towards Starlink selling mobile service rather than only supplying coverage to other carriers. Reuters says SpaceX is seeking a hybrid satellite-terrestrial mobile network through Starlink Mobile, in which a phone uses ground infrastructure where it can and falls back to satellites where it cannot, shattered.io reported.
Simply Wall St frames the consequence for shareholders bluntly: the spectrum move turns Starlink from pure satellite broadband into a hybrid carrier facing incumbents, tower build costs and complex regulation.
The spectrum vote
Coingape said the vote followed FCC approval for SpaceX to acquire spectrum licences in the 800 MHz range, and that approval of the 482MHz proposal could be bullish for the stock. The outlet reported the proposal’s passing would make it easier for SpaceX, through Starlink, to provide cellular services.
The carriers’ objection is about access, not technology, on Coingape’s account. Their case is that adding eligible bands would strip spectrum from the 300 million users who rely on it. Verizon’s chief executive has ruled out an MVNO deal with Starlink, and the same three networks now line up against the spectrum expansion.
A carrier brand, or just its network
The reporting leaves the structure open. Shattered.io says SpaceX discussed two routes with EchoStar — an outright purchase of Boost Mobile, or access to the Boost Mobile network — and that the reporting does not say which SpaceX prefers, nor are the two mutually exclusive in a negotiation. The outlet also cautions that “in talks” can mean anything from a signed term sheet to a few exploratory calls.
One detail in the Reuters text matters more than the headline, shattered.io argues: Boost Mobile’s network is leased from AT&T and T-Mobile, so the brand does not own a nationwide set of towers. That is the same ground-infrastructure question raised by SpaceX is in talks over Boost Mobile.
Shattered.io also flags a claim it will not vouch for: Investing.com summarised reporting that Elon Musk met EchoStar’s Charlie Ergen personally last month, a detail the outlet says it treats as a lead rather than a fact because it does not appear in the primary text.
What the balance sheet has to carry
Simply Wall St says the short-term swing factor is whether Starlink and AI revenue can keep pace with US$18.4 billion in quarterly capex and limited cash runway, with fixed costs from rockets, satellites and GPUs already locked in. Its baseline analyst narrative points to revenues of US$249.3 billion and earnings of US$78.0 billion by 2029, an earnings swing of roughly US$86.9 billion from a loss of US$8.9 billion today, on an assumed 121.2% yearly revenue growth rate.
The company’s own reported results sit alongside those forecasts — see our earlier report on Starlink’s 13.6 million subscribers. Simply Wall St names its biggest operational risk as regulatory or technical friction around Starship, direct to cell and Starmind slowing deployment.
Deutsche Bank’s more positive case rests on vertical integration: its analysts say SpaceX builds compute power for $35 billion to $36 billion per gigawatt against an industry average of $50 billion, and that estimates for the next few quarters may still be too low, according to Coingape.
Where the chart sits
Coingape reported that $143 had repeatedly held as support and lies at the lower end of an accumulation zone, with a bounce opening the way to $171. It said a confirmed close below $143 on the four-hour chart would complete a bearish head-and-shoulders pattern, sending the price towards the $135 IPO price and possibly below $130. None of this is investment advice; Simply Wall St’s own disclaimer says its commentary is general in nature and not a recommendation to buy or sell.
Background
The two companies are not strangers. Shattered.io cites a 2025 SEC exhibit in which SpaceX president and COO Gwynne Shotwell said the transaction with EchoStar “will advance our mission to end mobile dead zones around the world.” Shattered.io notes that neither that statement nor EchoStar’s mentions an acquisition of Boost Mobile, and both predate the November 2026 report.
Frequently Asked Questions
Have SpaceX or EchoStar confirmed that Boost Mobile is being sold?
No. According to shattered.io’s account of the Reuters report, neither company has confirmed a deal and neither had responded to Reuters’ requests for comment when the story ran on 2 November 2026. No price, valuation, launch date, subscriber count or closing condition appears anywhere in the available reporting.
Why would buying Boost Mobile not hand SpaceX a ground network?
Because Boost Mobile’s network is leased from AT&T and T-Mobile rather than owned, as the Reuters text relayed by shattered.io notes. A buyer would get the customer base, retail identity, billing and support operations and the contracts covering that leased capacity, but not a wide ground network of its own.
What had SpaceX and EchoStar already agreed before these talks?
SEC filings from 2025 cited by shattered.io show an agreement that included Starlink Direct to Cell access for Boost Mobile subscribers. In a company statement filed with the SEC, EchoStar said combining its AWS-3 uplink, AWS-4 and H-block spectrum with SpaceX’s launch and satellite manufacturing would accelerate direct-to-cell services for consumers and enterprises, including Boost Mobile customers.
How many Starship launches does SpaceX want from Boca Chica?
SpaceX is seeking FAA approval through a new Programmatic Environmental Impact Statement to raise Starship activity at Boca Chica from 25 launches a year to a possible ceiling of 456 launches and 912 landings annually, according to Simply Wall St on Yahoo Finance. The same piece says the company is also scaling Starship landing and expenditure sites globally.
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