Wire flash
FinanceSpaceX stock plunges nearly 23% since Nasdaq-100 inclusion after Starship test flight abort
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
SpaceX stock has fallen nearly 23% since being added to the Nasdaq-100 index, with shares posting losses in nine of the last ten trading days. On Friday, the stock dropped 5.43%, marking a sixth consecutive losing day. The decline follows the abort of a Starship V3 test flight on Thursday due to an engine ignition failure, which triggered an automatic launch abort. Elon Musk stated that two Raptor engines will be replaced and a new launch attempt is planned for early next week. The company had a record-breaking IPO in June 2026, raising $85.7 billion at $135 per share. Investors are closely monitoring SpaceX's rocket tests after the company's blockbuster market debut. The FAA recently cleared SpaceX to continue test trials after investigating a previous failed test in May.
Source report
SpaceX employees go to work at the SpaceX facility in Hawthorne, California, on the day of their company's initial public offering, June 12, 2026. Mike Blake | Reuters
Key Developments
- SpaceX's stock sank after a failed Starship test flight the previous day.
- An engine ignition failure triggered SpaceX to abort the test launch.
- Investors are watching closely after the company's blockbuster IPO in June.
Stock Performance
SpaceX stock has posted losses in nine of the last 10 trading days. As of Friday's close, the stock had plummeted nearly 23% since the company was added to the Nasdaq-100.
Friday's loss of 5.43% marked a sixth-straight losing day and came after Elon Musk's space and artificial intelligence company aborted a test flight for its Starship rocket.
Failed Test Flight
The aerospace giant was expected to launch its Starship mega rocket within a 90-minute window beginning at 5:45 p.m. in Texas on Thursday. However, an engine ignition failure forced SpaceX to scrub the launch.
"Some of the engines didn't start, triggering an automatic launch abort," billionaire founder Musk said in a post on X. "Now offloading propellant. Next launch attempt hopefully in a few days."
Musk later added in a post that two Raptor engines will be removed and replaced, and said a launch is planned again for early next week.
Nasdaq-100 Inclusion
The Nasdaq fast-tracked the company's inclusion in the index, allowing SpaceX to be added after just 15 trading days. Previously, companies had to wait months.
IPO and Investor Scrutiny
Investors are watching the company's rocket tests more closely after it raised a record $85.7 billion in the biggest initial public offering ever in June, pricing shares at $135.
SpaceX's shares have soared and dipped since its stock market debut.
Previous Test Flight Failure
Thursday's launch window was set to be SpaceX's first test flight of Starship V3 since its blockbuster IPO. A previous attempt in May failed after sending the Starship's upper stage toward the Indian Ocean. The Super Heavy booster failed to make a controlled landing in the Gulf of Mexico after five of its 33 Raptor engines failed to reignite.
The U.S. Federal Aviation Administration ordered an investigation into the mishap and on Monday cleared the company so it could continue its test trials.
Watch Now VIDEO | 5:26 SpaceX falls below its IPO price: Investor's next move Halftime Report
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Source
US Top News and AnalysisWestern
Part of this Story
SpaceX's Record $1.75 Trillion IPO Debuts Amid Valuation Disputes