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EsSpaceX Stock Hits Record Low After Starship Test Success
SpaceX stock fell to an all-time low of $109.53 on Monday, about 18% below its June 12 IPO price, despite Starship deploying 20 Starlink V3 satellites in a test flight days earlier.
SpaceX stock fell to a record intraday low of $109.53 on Monday and was recently near $110. The shares are about 18% below the $135 IPO price set on June 12 and roughly half of the June peak at $225.64. The stock closed at $115.07 on Friday before the launch and slipped after the flight.
Starship lifted off Friday evening from Starbase, Texas, on its 13th test flight and the first since the IPO. The upper stage deployed 20 Starlink V3 satellites, restarted an engine in space, and made what the company called its softest ocean splashdown to date.
Some targets were missed. The Super Heavy booster completed hot-staging separation and a flip maneuver, but it did not ignite all 13 engines for the landing burn and hit the Gulf of Mexico harder than planned. Recovery of Starship and Super Heavy was not planned. The attempt followed a July 16 engine-ignition abort and a July 23 weather scrub.
SpaceX spokesperson Dan Huot on the company livestream: "I'm a little over the moon right now... Lucky number 13."
CEO Elon Musk wrote that, pending review of mission data, SpaceX will try the first tower catch of a Starship upper stage at Starbase on the next flight, using the "Mechazilla" arms that have already caught a Super Heavy booster.
The decline comes as Musk’s other ventures remain active, with The Boring Company reportedly in talks to raise $4 billion at a $20 billion valuation. The company is prioritizing Starship and limiting future Falcon 9 and Falcon Heavy business. It has begun turning away dedicated Falcon 9 missions beyond 2028, stopped taking Falcon 9 rideshare bookings, and halted production of some expendable Falcon 9 and Falcon Heavy parts.
Analysts point to two key factors: the cost to refurbish the Starship upper stage after reentry, and whether SpaceX can increase its launch rate to reach targets of dozens of flights next year and hundreds in 2028.
Market view on Monday included this assessment from Alex Morris, CEO of F/m Investments: "I think you're going to see double digits in stock price, and that's probably not a terrible thing."
