SpaceX rescheduled its 13th Starship test flight to Thursday, July 23, following an automatic abort triggered by a Raptor 3 engine ignition failure. This delay caused SpaceX shares to drop over 5% on Monday, nearing their 52-week low at $124 per share.
Flight Details and Technical Setback
The launch, initially planned earlier in the week, was halted after several Raptor 3 engines failed to ignite during the countdown. SpaceX has not disclosed the cause of the engine malfunction. This flight represents the second test for the Starship V3 design and will lift off from the company’s Starbase facility in Texas.
For the first time, the rocket is scheduled to deploy 20 functional V3 Starlink satellites. A successful deployment is essential before SpaceX can assign heavier commercial payloads to this vehicle.
Market Impact and Investor Outlook
SpaceX stock (SPCX) has been under pressure recently, trading roughly 23% below its $135 IPO price. The recent slide adds to losses after shares fell below IPO value earlier this month. In addition, short interest has surged to 29% of the tradable float amid volatility.
Investor sentiment now hinges on Thursday’s launch window. A successful flight could help reverse some losses and improve confidence ahead of Q2 earnings and a major share unlock in early August. Analysts at Evercore ISI maintain an Outperform rating with a $230 target, attributing the stock’s decline to profit-taking rather than fundamental weaknesses.
Conversely, a second aborted launch could increase selling pressure, pushing the stock closer to its all-time low. The upcoming earnings report and August share unlocks add further uncertainty to the market reaction.
This article is for informational purposes and does not constitute financial advice.
