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SpaceX Slips Below IPO Price as Telecom Sector Faces Headwinds

Shares in the U.S. communications sector retreated as SpaceX fell to $131, dropping below its $135 IPO threshold for the first time since going public. The decline follows a brief uptick mid-week, even as the aerospace firm prepares for a dual-mission schedule involving Starship testing and defense satellite deployment.

SpaceX Slips Below IPO Price as Telecom Sector Faces Headwinds

While SpaceX navigates market volatility, broader industry shifts are taking shape. Verizon Communications confirmed plans to shed 274 retail stores to franchise operators, a move accompanied by the layoff of approximately 3,000 employees. The telecommunications giant intends to maintain ownership of roughly 1,000 locations following the transition.

In the digital media space, Trump Media & Technology Group announced a new initiative to introduce a real-time data feed. This feature will provide users direct access to posts from top-tier accounts on the Truth Social platform, marking a strategic attempt to increase content visibility and platform engagement.

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