SpaceX shares sink after Starship launch is called off
The aborted Starship attempt came as SpaceX stock traded below its $135 IPO price for the first time since its June Nasdaq debut.
By Frankie Delgado · News Reporter
2 min read
SpaceX shares were pointing lower again Friday after the company called off a Starship launch attempt tied to its next push for the rocket and Starlink satellites, MarketWatch reported.
The stock was down a little more than 3% in premarket trading Friday, according to MarketWatch, after falling about 3% on Thursday. That put shares at $126.58 before the bell, nearly $9 under the $135 price from SpaceX’s June 12 Nasdaq debut.
MarketWatch reported that the move would mark a fifth straight day of losses if it held through regular trading. The stock closed Thursday at $131.11, its first finish below the IPO price.
Launch stopped in the window
The company’s planned 13th Starship V3 rocket launch was halted Thursday during a 90-minute launch window that opened at 6:45 p.m. Eastern, MarketWatch reported. A livestream announcement said the attempt had been cut short, and Elon Musk confirmed the postponement minutes later on X.
“Some of the engines didn’t start, triggering an automatic launch abort. Now offloading propellant. Next launch attempt hopefully in a few days,” Musk wrote in a post on X.
Musk later said SpaceX would swap out hardware before trying again. “To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week,” he wrote.
The flight had been set up to address issues from Starship’s previous mission and to carry 20 Starlink “Version 3” satellites, according to MarketWatch.
FAA cleared the attempt after earlier probe
The Federal Aviation Administration gave SpaceX clearance for the launch on Monday after ending its investigation into the company’s 12th Starship flight, MarketWatch reported.
That earlier mission lifted off safely, but its Super Heavy booster later crashed into the Gulf of Mexico, according to the report. The FAA required SpaceX to conduct an investigation, which ended with four required actions, including hardware and software updates, MarketWatch reported.
The scrubbed launch matters to investors because Starship is linked to SpaceX’s satellite plans. Analysts at Bernstein, led by Douglas Harned, wrote Friday that they see Starlink as “the key enabler” of SpaceX’s future growth, while also describing it as a risk point for the company.
The Bernstein analysts expect 3,543 launches of the 400-foot rocket in 2031, with roughly nine out of 10 tied to Musk’s proposed orbital data centers, according to MarketWatch.
For now, investors have a stock below its IPO price and a rocket awaiting another try. Musk’s latest timing pointed to a possible launch attempt early next week, pending the engine replacements he described.
This story draws on original reporting from MarketWatch.