Cryptocurrency punters sharply raised odds on Monday that Space Exploration Technologies Corp. (NASDAQ: SPCX) will become a full-service U.S. mobile carrier next year.
SpaceX to Enter New Territory?
Polygon (CRYPTO: POL)-based Polymarket sees a 22% chance that SpaceX will launch a mobile phone plan in the U.S. by June next year, up from 13% the day before.
Similarly, the probability of it happening by the end of 2027 rose from 26% to 28% over the past 24 hours.
The Critical Piece of the Puzzle
The odds spiked after a report that SpaceX held talks with Boost Mobile’s parent company, EchoStar Corp. (NASDAQ: ECHO), to launch its own wireless service.
A deal could involve SpaceX acquiring Boost or gaining access to its network, which Boost leases from AT&T Inc. (NYSE: T) and T-Mobile US Inc. (NASDAQ: TMUS).
Market commentator and television personality Jim Cramer said a potential agreement would give Elon Musk‘s company direct “reach to compete” against U.S. telecom giants.
Last month, SpaceX agreed to acquire a nationwide portfolio of low-band spectrum licenses.
Musk called the move the “last critical piece” of the spectrum puzzle needed to provide complete phone coverage in the U.S. through Starlink Mobile.
Price Action: SpaceX shares rose 0.61% in after-hours trading, according to Benzinga Pro. The stock closed 1.22% higher at $136.37 during Monday’s regular trading session.
Benzinga’s Edge Stock Rankings place SPCX in a weak price-trend category for short-, medium-, and long-term performance
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