T-Mobile Shares Edge Up Overnight Following Worst Single-Day Drop Driven by SpaceX Entry

T-Mobile US, Inc. (TMUS) shares rose about 0.39% in late Sunday overnight trading, recovering slightly after suffering its worst single-day decline in company history. The stock fell 13.27% on Friday to $148.60, marking its steepest loss since its 2013 stock market debut. Despite the heavy selloff, retail sentiment remained strongly positive over the weekend as individual traders stepped in to buy the dip.

The downturn across the wireless sector followed an announcement from Elon Musk's SpaceX (SPCX) that it is expanding into traditional telecommunications. SpaceX plans to add up to 14 megahertz of paired spectrum in the 800 MHz band to its Starlink Direct to Cell service, raising concerns over potential industry disruption. Other major industry competitors, including AT&T Inc. (T), Verizon (VZ), and Comcast (CMCSA), also closed lower on Friday, though T-Mobile experienced the largest decline among its peers.

Investors are now turning their attention toward upcoming corporate events to gauge the company's trajectory. T-Mobile is scheduled to report its third-quarter earnings on October 28, with a dividend payment expected the following month. Shareholders will watch whether financial results and subscriber growth can help offset competitive pressures, as the stock remains down more than 25% year-to-date.