Verizon (VZ) Stock Slides After Report SpaceX Seeks 80,000 Cell Sites

TLDR Verizon (VZ) stock fell 3.3% in pre-market trading Friday to $43.70 after a report that SpaceX wants access to 80,000 cell sites. AT&T and T-Mobile also dropped, even though AT&T beat earnings and raised its outlook. Verizon had risen 3.7% to about $45.16 on Thursday before the reversal. CEO Kyle Malady sold 1,100 shares on Oct. 20 under a pre-arranged plan, and a Form 144 filing was disclosed Oct. 22. Verizon reports earnings Monday, with analysts expecting EPS of about $1.27. Verizon (VZ) stock slid 3.3% in pre-market trading Friday to $43.70. The drop followed a Bloomberg report that SpaceX is negotiating access to at least 80,000 cell sites in the US. Verizon Communications Inc., VZ That is roughly half of all purpose-built towers in the country.

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