Telecom competition, financial losses, and shifting restaurant-sector expectations weighed on investor sentiment.

  • T-Mobile stock fell to nearly a three-year low amid concerns that SpaceX could build a larger wireless network.
  • LKQ stock plunged after its Q3 EPS outlook missed Street expectations.
  • Chipotle fell to a three-year low ahead of earnings as concerns about the restaurant industry mounted.

 T-Mobile US (TMUS), LKQ Corp. (LKQ) and Chipotle Mexican Grill (CMG) hit fresh 52-week lows on Friday as investors reacted to SpaceX’s wireless ambitions, worsening European operational problems at LKQ and analyst price target cuts for Chipotle ahead of earnings.

T-Mobile US and Chipotle Mexican Grill stocks dropped 7% and 2%, respectively, while LKQ stock plunged 22%.

SpaceX Expansion Raises Questions For Wireless Carriers Like T-Mobile

T-Mobile stock fell to nearly a three-year low of $146.32 as investors assessed the potential impact of a broader wireless push by Elon Musk’s SpaceX (SPCX). Reports suggested the space company was mulling over gaining access to at least 80,000 cell sites with Crown Castle Inc. (CCI).

Citi analysts believe the plan could signal that SpaceX intends to operate a more complete mobile network instead of relying primarily on partnerships as a mobile virtual network operator. Such an expansion could put pressure on legacy carriers, including AT&T Inc. (T), Verizon Communications Inc. (VZ), and T-Mobile.

Citi estimated that major U.S. wireless carriers face valuation risks of 29% to 32%, with another 4% to 16% downside possible following their declines in 2026. On Stocktwits, retail sentiment around the stock remained ‘bearish’. 

LKQ Faces European Disruptions And Leadership Changes

LKQ stock plunged to a six-year low of $17.21 after the automotive parts distributor warned that its third-quarter performance would fall short of expectations. The company sees Q3 adjusted earnings per share between $0.47 and $0.53, below analysts' consensus estimate of $0.72, according to Fisca.ai.

The company also withdrew its financial guidance for 2026 and hired consulting firm Alvarez & Marsal to address problems related to an enterprise resource planning system rollout in Germany. LKQ appointed Salvatore A. Abbate as president and CEO as it works to improve operations.

Barrington Research downgraded LKQ to ‘Market Perform’ from ‘Outperform’ and removed its price target, explaining that the company's European execution problems were more serious than previously understood. Retail sentiment around the stock remained ‘bullish’.

Chipotle Slips Ahead Of Q3 Earnings On Growth Concerns

Chipotle stock slumped to a three-year low of $27.31 as investors weighed a weaker outlook for restaurant stocks and revised analyst expectations before the company's third-quarter report on Oct.28

On Friday, Mizuho slashed its price target on Chipotle to $37 from $43 but maintained an ‘Outperform’ rating. The adjustment formed part of a broader review of restaurant companies, with the firm preferring competitors such as Brinker International (EAT), Restaurant Brands International  (QSR), and Wingstop (WING). Pressure on consumer spending and higher operating costs have added to concerns about restaurant profitability.

According to Fiscal.ai, analysts see $3.2 billion in revenue with earnings of $0.29 per share. Retail sentiment around the stock remained ‘bullish’.

So far this year, TMUS, LKQ and CMG stocks have declined between 25% and 42%.

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