SpaceX shares climbed 2.8% to $165.04 following the company’s purchase of spectrum licenses from Grain Management. The move appears to have rattled the established telecom sector, as AT&T, Verizon, and T-Mobile US all saw their stock values decline by approximately 6.6% in after-hours trading.
In section Market Quotes
Telecom and Healthcare Stocks Slip After Market Close
A sharp divergence hit the markets after the bell, as SpaceX’s acquisition of spectrum licenses triggered a sell-off in major telecommunications shares. Meanwhile, healthcare providers faced investor scrutiny following the latest Medicare Advantage star ratings, leading to significant volatility for firms like Alignment Healthcare and CVS Health.
In the healthcare sector, Alignment Healthcare shares tumbled 23% to $6.70 after reporting that a 2027 Medicare Advantage plan earned a 3.5-star rating from the Centers for Medicare & Medicaid Services. CVS Health also faced downward pressure, with shares sliding 3% to $85.16. Despite the drop, the company noted that its Aetna division maintains a strong position, with over 69% of its Medicare Advantage members enrolled in plans rated at four stars or higher for 2027.
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