Donald Trump and Jim Cramer have publicly backed SpaceX amid reports that Elon Musk's company is in talks to buy Boost Mobile — an American mobile operator with a customer base of about 7 million.
The support came as SpaceX shares held at $137 on Monday — just $2 above the IPO price of $135. The outcome of the Boost Mobile deal, Tuesday's midterm elections, and the December unlocking of some shares will determine the prospects for shareholders.
What the Boost Mobile deal will give SpaceX
SpaceX is in talks with EchoStar (ticker — ECHO) to buy Boost Mobile or lease its networks. Musk is seeking to create a full-fledged mobile operator in the US — combining Starlink satellites and terrestrial base stations.
He first tried to gain access to the networks of AT&T, Verizon, and T-Mobile. All three operators refused.
CNBC host Jim Cramer believes that buying Boost Mobile would remove questions about the scale of SpaceX's operations.
"SpaceX may have a lot of shares coming onto the market, but the opportunity to buy Boost Mobile (an EchoStar division) will close any doubts that the company lacks the scale to compete," he wrote.
Under the terms of the IPO, most early investors agreed to a phased 180-day lockup — a ban on selling shares that will begin to lift in December.
EchoStar shareholders reacted to the news. Before the market opened on Monday, their shares rose 6.5%. In September 2025, when SpaceX agreed to buy radio frequencies from EchoStar for $17 billion, the company's stock rose by about 19%.
The complication is that Boost leases its network from AT&T and T-Mobile. The lease contracts may not transfer to the new owner, so the operators that refused Musk could block access again. The deal has not yet been concluded.
Trump backed SpaceX
Donald Trump said Musk needs to be protected if Democrats decide to threaten SpaceX's contracts. On Fox Business on October 24, he said that "Elon did nothing wrong."
Democrats plan to scrutinize Musk's federal contracts if they win Tuesday's congressional elections. House member Zoe Lofgren — the top Democrat on the Science Committee — has spoken about a conflict of interest.
Musk has spent about $276 million supporting Republicans since July.
Trump's rhetoric toward the businessman has repeatedly shifted. In June 2025, he said government contracts with Musk should be terminated. The statement triggered a 16% drop in Tesla shares in a single day.
At the same time, political disputes do not explain Friday's 6.4% plunge in SpaceX shares. The decline coincided with a selloff across the entire tech sector over artificial intelligence spending.
The heightened volatility affected crypto platforms where investors trade tokenized SpaceX shares.
Three factors will shape the future of SpaceX shares: the election results, the position of the mobile operators, and the December unlocking of shares.
Cryptalist analysis: SpaceX's entry into the telecom market through Boost Mobile is a strategic attempt to connect Starlink infrastructure to a retail subscriber base, which could fundamentally change the company's valuation. However, the key risk lies in leasing networks from AT&T and T-Mobile: without guarantees that the contracts will transfer, the deal remains hostage to the competitors' position. Investors should keep in mind that the December unlocking of shares and the political turbulence surrounding the congressional elections create heightened volatility in the short term.