SpaceX stock drops after first test flight since IPO scrubbed
Pras Subramanian· Senior Reporter
Updated Fri, July 17, 2026 at 6:09 AM GMT+5:30
2 min read
- SPCX
-3.08%
SpaceX (SPCX) stock continues to dominate headlines following the scrapping of plans for the first test flight. Tonight’s stoppage comes as SpaceX shares plumb new lows
On Wednesday, SpaceX stock dipped to a new all-time low of $132.75, dropping below its IPO price of $135 and subsequently closing at $135.27.
In after-hours trading, SpaceX stock continued to slide, reaching lows around $126.50
SpaceX shares are now down over 30% from their all-time high and around 10% year to date; shares were slightly lower in midday trade Thursday
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131.11-4.16(-3.08%)
At close: July 16 at 4:00:00 PM EDT
But there could be a big catalyst for the stock coming tonight. SpaceX will attempt the 13th test flight of its Starship rocket — the largest and most powerful ever built — and its first Starship launch since the company’s June 12 IPO
As of Thursday morning, Starship is stacked on top of its booster and ready for this evening’s launch. Booster 20, the Super Heavy vehicle supporting the mission, was rolled back to Starbase’s Pad 2 yesterday, with the upper-stage Ship 40 joining the booster overnight, when the two were stacked for the final time before liftoff
This will also be the second launch of Starship’s Version 3, a bigger, more powerful design that debuted less than two months ago.
SpaceX said tonight’s launch will primarily test the booster’s ability to execute a successful launch, stage separation, and return to an offshore landing point in the Gulf of Mexico. In addition, Starship will need to deploy 20 Starlink V3 satellites and return to Earth in a controlled descent, with splashdown in the Indian Ocean
While investors would like nothing less than a successful launch, Wall Street is taking a more cautious approach
“There will be plenty to analyze from Flight 13, but over time, we expect both progress and setbacks as SpaceX moves toward its goal of launching Starship dozens of times next year, followed by hundreds of times in 2028, and then thousands beyond,” JPMorgan’s Seth Seifman wrote in a note to clients
Though the test will provide more data on the rocket’s technical performance, Seifman is more interested in the cost and time associated with refurbishing the second stage, given the stress of reentry.
Usability is key. “Regarding the Starship business case, we are a bit more focused on how quickly that same second stage will refly,” he said
SpaceX said the launch can be viewed on its X.com feed
Pras Subramanian is Lead Transportation Reporter for Yahoo Finance. You can follow him onXand onInstagram
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