Starship Test Flight Scrubbed, SpaceX Stock Sinks Below IPO Price
SPCX is trading near its 52-week low of $130.74 (2.8% below the low).
Summary
SpaceX scrubbed the 13th Starship test flight due to a booster issue, with no new launch date set. The stock fell 3% to close at $131, a new all-time low and below the $135 IPO price, marking five straight losing sessions. Starship is central to the company's launch-cost reduction and Starlink deployment plans, so delays directly pressure the growth narrative. This follows a post-IPO slide from highs above $225 as execution concerns mount. The scrub adds to a pattern of technical setbacks, with the prior test flight also delayed before its May launch.
At the time of this announcement, SPCX was trading at $127.07 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $130.74 to $225.64. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.