SpaceX Eyes 80,000 Cell Sites

SpaceX is reportedly negotiating access to as many as 80,000 cell sites, a move that has caught Wall Street's attention. Analysts like Michael Ng of Goldman Sachs note the distinction between cell towers and cell sites. These sites can include rooftops, billboards, and small cells, hinting at new real estate opportunities. Citi's Michael Rollins points out that some of those sites may be smaller towers or distributed antenna systems. Bernstein's Laurent Yoon says large-scale tower leases would reinforce SpaceX's shift toward owner economics. Following the Grain Management spectrum deal, American Tower shares rose 4% and Crown Castle jumped 9%. Meanwhile, AT&T fell 8% and T-Mobile dropped 7%. AT&T CEO John Stankey warned that it takes years and huge investment to match the performance customers expect.