TradingKey – SpaceX (SPCX) stock rebounded in pre-market trading on October 9, Eastern Time, after pulling back noticeably in the previous trading session. As of press time, SPCX traded at around $167 in pre-market, up about 4.1%; on October 8, the stock fell 4.19% to close at $160.57, after touching an intraday low of $160. The primary reason for the pre-market gain in SPCX stock was SpaceX’s announcement of acquiring nationwide 800MHz low-band wireless spectrum.
SpaceX announced that it has reached an agreement with private equity firm Grain Management to acquire the latter’s portfolio of nationwide 800MHz low-band spectrum assets, involving up to 14MHz of paired spectrum.
The key focus of this acquisition is that 800MHz belongs to…
