SpaceX shares rise as reports cite Boost Mobile deal talks and spectrum plans

Premarket rebound in SpaceX shares

KuCoin reports that SpaceX stock, traded as SPCX, moved higher in premarket trading on November 2, 2026. The shares were quoted at $136.95, up $2.23, or 1.66%, from Friday’s close. KuCoin says that was still below Thursday’s closing price.

Friday’s trading move and volume

According to KuCoin, the stock lost $9.17, or 6.37%, versus its previous close of $143.89 on October 29. Google Finance data cited in the report showed shares opened Friday at $137.85 and climbed to an intraday high of $140.20 before dropping to $134.50. The stock ended the session just $0.22 above that low. KuCoin also reported about 122.65 million shares changed hands during the day.

Talks involving Boost Mobile and network access

The Washington Post reported that SpaceX is in discussions about either buying EchoStar’s Boost Mobile business or obtaining access to its wireless network. KuCoin says those options would support Elon Musk’s plan for Starlink Mobile, described as a U.S. cellphone service that would combine satellite links with terrestrial networks.

Carrier relationships and EchoStar subscriber data

KuCoin reports that the talks have continued for months. It says Musk met with EchoStar Chairman Charlie Ergen in October to discuss a possible arrangement. The article also says Musk had earlier sought network access from Verizon, AT&T and T-Mobile, but all three declined the proposal. Boost currently uses network capacity from AT&T and T-Mobile to provide budget phone plans and nationwide coverage, though those carriers may have to approve any transfer of Boost’s network agreements to a new owner. EchoStar reported 7.38 million wireless subscribers at the end of June, with Boost Mobile and Gen Mobile making up most of that base. In the second quarter, EchoStar lost about 118,000 retail wireless subscribers, compared with a gain of 212,000 in the same period of 2025.

Spectrum purchase and closing timeline

KuCoin says an acquisition of Boost could give Musk a wireless operating business, customer accounts and a retail distribution platform. Separately, the report notes that MoffettNathanson values the U.S. wireless market at $235 billion. KuCoin also reports that SpaceX agreed on October 8 to buy Grain Management’s nationwide 800 MHz spectrum portfolio for about $8 billion. The filing cited by the report says the deal covers up to 14 megahertz of paired spectrum. SpaceX said it wants to become “a major mobile carrier in the US” through the purchase and plans to combine satellite service with cellular infrastructure for indoor and dense urban coverage. According to Grain, the transaction still needs FCC approval and other standard closing conditions. SpaceX’s latest quarterly filing says it expects the spectrum deal to close in the first half of 2027.