Why Is AT&T INC (T) Stock Down Today?

AT&T shares fell 6.86% to $21.18, marking a sharp decline driven by growing concerns over SpaceX’s potential entry into the U.S. mobile market. The move reflects a broader valuation pressure on established wireless carriers as investors weigh the competitive threat from Starlink.

What Happened

The stock gapped down 4.4% from the prior close of $22.74, opening at $21.74. Citi noted that while Starlink is years away from competing directly with AT&T and Verizon, the firm sees additional downside for established wireless carriers. The bank views SpaceX’s potential network expansion as a positive development for cell tower operators, who stand to gain from a new major tenant. AT&T and T-Mobile have also tightened AI guardrails as autonomous networks remain years away. The stock hit a session low of $21.18 at 2:30 PM ET, closing at that level.

What The Data Shows

AT&T has a market cap of $150.1 billion and a P/E ratio of 12.1. Revenue grew 3.5% over the trailing twelve months, with a net margin of 10.2%. The dividend yield stands at 5.07%, and the beta is 0.44. The 52-week range is $19.89 to $29.43. Volume was 51.4 million shares, which is 0.9 times the 3-month daily average. Unusual options activity showed $2.8 million in put premium versus $0 in call premium, with the biggest single print at $2.8 million. The stock printed 28 fresh 52-week lows on 2026-10-23. Over the last 8 sessions, the stock moved -2.3% from $25.97 to $25.37. Congressional trades include 11 buys and 8 sells in the last 90 days, with the most recent filing on 2026-10-15.

What To Watch

Investors will monitor coverage breadth and further developments regarding SpaceX’s wireless push. The stock’s position near its 52-week low and the continued valuation pressure on telecom peers will likely remain focal points for the near term.