Verizon's CEO Has a Warning for SpaceX and Its Mobile Plans

Many telecom stocks have been under pressure this year, as investors worry about the threat that Space Exploration Technologies Corp (NASDAQ:SPCX) poses to the industry.

Verizon Communications (NYSE:VZ) is a prime example of that. While it posted strong results this year, which initially sent its stock soaring, it's been going in the opposite direction in recent months, with SpaceX CEO Elon Musk making it known that the company plans to turn its Starlink business into a major mobile carrier.

But that doesn't mean it's going to be a cakewalk by any stretch. And Verizon's CEO has made it clear that the telecom giant isn't just going to hand over market share.

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