On October 9, Charter Communications fell 5.52% in regular trading, with the stock trading at $103.545 per share and turnover of $251 million.

The decline was primarily driven by SpaceX's announcement that it has acquired nationwide 800MHz low-band spectrum for $8 billion, formally entering the U.S. mobile operator market and intensifying concerns about the competitive landscape for traditional telecom and cable companies. The spectrum acquisition is expected to address indoor coverage gaps for SpaceX's direct-to-cell satellite service, which has already received FCC approval for 15,000 satellites.

This development compounds existing pressures on Charter, which has faced rising broadband subscriber losses due to fiber and convergence competition. Multiple investment banks have recently lowered their price targets on the stock, including cuts from Arete Capital to $68 and Goldman Sachs to $110, while UBS has projected steeper Q3 broadband subscriber losses. The combined impact of competitive satellite expansion and ongoing fixed-line challenges has weighed heavily on investor sentiment.

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