News & Analysis

Space X and T-Mobile Joint Enterprise

30 August 2022 By GO Markets

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Space X – Space Exploration Technologies Corp. is an American spacecraft manufacturer, space launch provider, and a satellite communications corporation headquartered in Hawthorne, California. It was founded in 2002 by Elon Musk, with the goal of reducing space transportation costs to enable the colonization of Mars and T-Mobile – The American wireless network operator headquartered in Bellevue, Washington, U.S. – have teamed up, creating a partnership which will allow T-Mobile, the second-largest wireless carrier in the United States, to tap into the constellation of SpaceX’s Starlink satellites to provide service to customers in areas with no cell towers.

The two companies, along with SpaceX CEO Elon Musk, announced the surprise event via their respective Twitter accounts. Musk told his 104 million followers on Twitter that “this is something special”, but the companies have revealed nothing more than the time and location, and that it concerns increasing connectivity.

This new strategy saves T-Mobile’s clients from updating their handsets and would cut out the need for cell towers and offer service for sending texts and images where cell coverage does not currently exist, key for emergency situations in remote areas, Musk said at a flashy event on Thursday the 25th at his company’s south Texas rocket facility.

T-Mobile’s stock price rallied towards the end of last week before correcting to $142.99 today.

Both Tmobile and SpaceX are interesting assets that deserve a look in the future if you not already watching them as part of a strategy to trade its price in a CFD platform or look to sell or buy the stock as part of portfolio strategy.

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Sources: https://www.zdnet.com/, reuters.com, new atlas, moomoo.

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