Space Exploration Technologies Corp. Class A Common StockFCC approval sought for massive Starlink expansion, boosting its most profitable segment.

SpaceX has filed a request with the U.S. Federal Communications Commission to deploy up to 100,000 of its new Gen3 Starlink satellites, a massive expansion of its most profitable business segment. The company currently has just over 10,400 satellites in orbit, and the proposed constellation would operate in very low Earth orbit to dramatically improve internet speeds. However, at its current production rate of 70 satellites per week, it would take over 27 years to manufacture 100,000 units, and the larger Gen3 satellites will require the still-in-development Starship rocket for launch. The stock, which recently traded near its $135 IPO price after hitting $225, may become attractive on a steeper pullback, according to the article.
Space Exploration Technologies Corp. Class A Common StockFCC approval sought for massive Starlink expansion, boosting its most profitable segment.