Donald Trump and CNBC host Jim Cramer defended SpaceX on Monday after reports that the company is in talks to acquire or lease Boost Mobile, a U.S. carrier with roughly 7 million customers.
SpaceX shares were trading near $137, slightly above the $135 IPO price, as the market considered the potential Boost Mobile deal, upcoming midterm elections and a December share‑lockup release.
Potential Boost Mobile Deal
SpaceX is reportedly discussing a purchase or network‑rental arrangement with EchoStar, the current owner of Boost Mobile. Elon Musk has indicated interest in building a full‑service U.S. phone offering that would combine Starlink satellite coverage with ground‑based towers.
According to reports, Musk previously approached AT&T, Verizon and T‑Mobile for network access, but all three declined.
Jim Cramer said that acquiring Boost Mobile could address concerns about SpaceX’s ability to compete in the telecom market.
Share‑Lockup and Market Reaction
Under the IPO terms, early investors are subject to a 180‑day lockup that begins to lift in December, allowing a portion of shares to be sold.
EchoStar’s stock rose 6.5% before the Monday open, reflecting investor interest in the potential transaction.
Political Context
Donald Trump stated on Fox Business that Elon Musk should be protected from potential Democratic actions that could affect SpaceX, noting that “Elon has done nothing wrong.”
Democratic leaders have discussed reviewing Musk’s federal contracts if they gain control of Congress, with Rep. Zoe Lofgren highlighting possible conflicts of interest.
Musk has contributed approximately $276 million to Republican causes since July.
Recent Stock Movement
SpaceX shares fell 6.4% on Friday amid a broader technology sector sell‑off linked to AI spending, according to the Associated Press.
The upcoming election results, carrier approvals and the December lockup release are likely to influence SpaceX’s stock performance moving forward.
