SpaceX Stocks Fall to $123 After Starship Abort, Sets July 23 Launch

SpaceX set July 23 for Starship's 13th test flight after an automatic abort halted the July 16 launch attempt one second before liftoff at its Starbase facility in Texas. Four of the rocket's 33 main booster engines failed to ignite, triggering the shutdown of the remaining 29 engines. The abort sent SpaceX stocks lower, with SPCX closing at $123.1 on July 16, its first finish below the $135 IPO price since the company's June 12 debut that raised roughly $75 billion.

Four Engines Failed One Second Before Liftoff

The company confirmed the July 23 target in a statement on Sunday following the July 16 scrub. The 407-foot rocket came within roughly one second of liftoff when four of its 33 main booster engines failed to ignite, triggering an automatic abort. Musk explained the fix in a post on X, saying two engines will be replaced. The mission profile remains unchanged, carrying 20 of SpaceX's newest Starlink satellites. Neither the booster nor the spacecraft is intended for recovery.

SpaceX Stocks Close at $123.1 Below June IPO Price

SPCX closed at $123.1 on July 16, its first finish below the $135 IPO price since the June 12 debut that raised roughly $75 billion at a valuation above $1.75 trillion. The stock is currently trading around $123. The close capped a collapse from the stock's peak after shares had surged above $160 before pulling back on dilution concerns tied to a $60 billion all-stock acquisition of artificial intelligence coding startup Cursor. The company holds 18,712 bitcoin, making SPCX one of the largest publicly traded bitcoin holders. The company joined the Nasdaq-100 just weeks after listing.

NASA Artemis IV Mission Scheduled for No Earlier Than 2028

NASA relies on Starship as the lunar lander that will return astronauts to the moon. SpaceX and Blue Origin must have their landers operational by next year so Artemis III crews can practice docking procedures. The actual moon landing mission, Artemis IV, is scheduled for no earlier than 2028. Starship has flown a dozen times, but the program still must demonstrate orbital refueling and an uncrewed lunar touchdown before astronauts climb aboard.

FAQ

What caused SpaceX Starship's July 16 launch abort? Four of the rocket's 33 main booster engines failed to ignite one second before liftoff, triggering an automatic abort that shut down the remaining 29 engines.

What is SpaceX stocks trading at compared to its IPO price? SPCX closed at $123.1 on July 16 and is currently trading around $123, below the $135 IPO price from the June 12 debut that raised roughly $75 billion.

When is NASA Artemis IV moon landing scheduled? NASA's Artemis IV moon landing mission is scheduled for no earlier than 2028, and depends on Starship proving itself as a lander.