SpaceX stock has fallen nearly 5% to a post-IPO low of $125 after the company aborted Starship’s 13th test flight shortly before liftoff.
Summary
- SpaceX stock fell nearly 5% to $125, slipping below its $135 IPO price.
- SpaceX aborted the Starship launch after two Super Heavy booster engines failed to ignite.
- Elon Musk confirmed engine replacements ahead of another launch attempt scheduled for July 20.
SPCX has slipped below its $135 initial public offering price and lost about 35% over the past 30 days. The decline extends a losing streak that began after enthusiasm surrounding SpaceX’s public debut cooled and early investors started taking profits.
Selling accelerated after SpaceX halted its latest Starship launch during pre-flight procedures. According to the company, at least two Raptor engines on the Super Heavy booster failed to ignite, preventing the rocket from proceeding with the planned test.
CEO Elon Musk later confirmed that SpaceX would replace the affected engines before making another launch attempt. His update pushed the flight into the following week, adding a fresh setback for a stock already trading well below its post-IPO peak.
Starship engine failure adds pressure on SpaceX stock
SpaceX’s launch cancellation gave traders another reason to reduce their exposure after several weeks of falling prices. While the company did not link the stock decline directly to the failed ignition, market commentary on X focused heavily on the timing of the abort and the subsequent 5% selloff.
Author and cognitive scientist Gary Marcus suggested that the failed attempt could deepen concerns about investor confidence in Musk’s ability to execute SpaceX’s plans. Clarifying his view later, Marcus argued that another record low appeared more likely than a sudden collapse in the company’s shares.
Investor and longtime Tesla supporter Sawyer Merritt took the opposite position. Commenting on the selloff, Merritt argued that shareholders were placing too much weight on a launch delay expected to last only a few days.
Investors selling SpaceX shares for that reason “shouldn’t have been in the stock in the first place,” Merritt wrote on X. His comment framed the market reaction as excessive, although the shares remained under pressure following the postponement.
Before the recent decline, demand surrounding SpaceX’s IPO had driven SPCX as high as $225.64. The stock has since surrendered much of that advance and now trades about 8% below its offering price.
Revised Starship launch offers the next test for investors
SpaceX has rescheduled Starship’s 13th test flight for Monday, July 20, at 6:45 p.m. ET, according to the company’s latest announcement. The updated timetable gives engineers several days to replace the two engines and prepare the Super Heavy booster for another attempt.
Merritt pointed to the revised date as evidence that the interruption may be brief. Marcus, however, continued to focus on the stock’s deteriorating performance, leaving two sharply different readings of what the aborted launch means for shareholders.
A successful flight could influence sentiment around SPCX, but that possibility remains dependent on SpaceX completing the test without another technical delay. Until then, price data shows that the shares remain caught in a month-long decline despite the company providing a new launch schedule.
Separate from the test flight, Binance has introduced a perpetual futures product linked to SpaceX stock, according to the exchange’s announcement. The contract gives eligible traders derivatives-based exposure to SPCX, adding another venue through which market participants can take leveraged positions on the company’s price movements.
