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Elon Musk's SpaceX (SPCX) is reportedly seeking to obtain at least 80,000 U.S. cell sites as it looks to launch a mobile network. Showing that it's serious about the plan, the company is in talks about the matter with “at least one big tower owner,” Crown Castle (CCI), Bloomberg reported. But it will probably take many years for a mobile network to deliver a positive return on investment (ROI) for SpaceX, so the initiative could take a long time to boost SPCX stock.
Moreover, in order to make the undertaking work, the company will have to overcome multiple, tough obstacles, and there are some reasons to believe that the venture will not succeed at all. On the other hand, SpaceX does have some strengths that could enable its mobile network to eventually thrive. Still, in light of the likely long ROI time of the project and the difficulty of predicting whether it will succeed, the mobile network initiative does not increase the overall appeal of SPCX stock.
