Telstra pinned as possible SpaceX loser after mega float

Traders are betting that ASX-listed telco giant Telstra will face a disruptive threat from Elon Musk’s newly listed $US1.8 trillion ($2.6 trillion) giant SpaceX, which runs satellite internet operator Starlink.

SpaceX listed on Friday in a blockbuster sharemarket float, and derives $US11.4 billion, or 61 per cent, of its revenue from Starlink’s connectivity services. But some investors say the company could feed its growth ambitions by eating into the market share of existing broadband providers.

Source: https://www.afr.com/markets/equity-markets/telstra-pinned-as-possible-spacex-loser-after-mega-float-20260611-p605pj