SpaceX stock ends higher as Reuters reports EchoStar talks

Session overview

Gotrade reports that SpaceX (SPCX) finished the regular session on Monday, November 2, 2026, at $136.37, which was $1.65 higher and 1.22% above the prior close. The article says the stock moved in a range from $135.72 to $142.05 after opening at $137.04, then gave back much of its intraday gain before the close. Volume reached 91.0 million shares, which Gotrade says was 4.22% below the 30-day average of 95.0 million shares.

Broader market context

Gotrade notes that the advance came during a soft day for technology stocks. The Nasdaq Composite fell 1.07% to 25,164.36, while the S&P 500 slipped 0.51% to 7,541.40. The Dow Jones Industrial Average moved the other way, rising 0.41% to 51,983.98. Gotrade adds that SPCX ended the day 2.29 percentage points ahead of the Nasdaq. The U.S. 10-year Treasury yield fell 3.5 basis points to 4.89%.

Reported driver: EchoStar discussions

Gotrade says no article it reviewed tied the stock move to a single confirmed cause. The main company-related news was a Washington Post report, carried by Reuters on November 2, saying SpaceX has held talks with EchoStar in recent months. According to that report, the discussions involved either buying Boost Mobile or gaining access to EchoStar's network. Reuters also reported that Elon Musk met EchoStar chairman Charlie Ergen last month. SpaceX and EchoStar did not immediately respond to requests for comment, according to Reuters.

Why the report mattered to traders

Gotrade says the Reuters report noted that EchoStar shares rose about 3.4% in premarket trading after the story. It also says Boost Mobile uses network leases from AT&T and T-Mobile, so any move to use that network may need their consent. Reuters reported that EchoStar had 7.38 million wireless subscribers at the end of the second quarter, mostly Boost Mobile and Gen Mobile customers.

Additional context and risks cited

The article says the same report fed a debate over how quickly SpaceX could build a wireless business. Gotrade, citing TIKR, says Verizon CEO Dan Schulman told analysts on Verizon's third-quarter call that SpaceX would need "a minimum of four to six years" and between "$300 billion and $500 billion" to become a rival. TIKR also said Musk replied on X that it "will take 2 or 3 years." Gotrade says TIKR argued that a Boost deal would cover the retail and customer side of that challenge.

Gotrade also reports that the same story pressured AST SpaceMobile, with Stocktwits saying its shares fell because of competition concerns tied to carrier partnerships. In its own analysis section, Gotrade says a deal could give SpaceX access to EchoStar's 7.38 million subscribers, and notes that SpaceX held $89.9 billion in cash and marketable securities on September 30, according to TIKR. The article also says Reuters-cited analysts pointed to the large investment needed for ground infrastructure, customer service, and handset subsidies. Gotrade adds that SpaceX expects fourth-quarter capital spending of $35 billion to $40 billion, while Verizon's CEO put the cost of building a rival carrier at $300 billion to $500 billion.