Why Verizon Stock Just Crashed
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.
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