SpaceX postponed a crucial launch - and its stock went on to close below IPO price for a second day

By Nora Redmond

SpaceX's planned 13th Starship V3 rocket launch was scrubbed during its 90-minute window.

Shares in SpaceX fell further below their initial-public-offering price Friday after the spacecraft manufacturer aborted an attempt to launch its Starship rocket.

The Texas-headquartered company's stock (SPCX) fell more than 5% on Friday, on the heels of a 3% slide on Thursday, bringing its price more than $10 below where it launched on the Nasdaq on June 12. The stock is has lost steam for five days in a row.

SpaceX shares ended at $131.11 a share on Thursday, closing below the $135-per-share IPO price for the first time.

SpaceX had been set to execute its first launch since the IPO on Thursday, with a Starship take-off scrapped after its launch window opened at 6:45 p.m. Eastern time. CEO Elon Musk then confirmed the mission had been postponed, following an announcement during a livestream of the event that it had been cut short.

"Some of the engines didn't start, triggering an automatic launch abort. Now offloading propellant. Next launch attempt hopefully in a few days," Musk wrote in a post on X.

Musk later added: "To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week."

The plan for Starship's 13th flight was to address problems seen during its previous flight and to carry and deploy 20 Starlink "Version 3" (V3) satellites.

The Federal Aviation Administration gave SpaceX the go-ahead for its launch on Monday after closing an investigation into the company's 12th flight, which following a safe lift-off saw its Super Heavy booster crash into the Gulf of Mexico. The regulatory body ordered SpaceX to carry out an investigation that concluded with four actions, including software and hardware updates, to be completed.

Analysts at Bernstein led by Douglas Harned wrote in a note on Friday that they viewed Starlink as "the key enabler" of SpaceX's growth in the future, but that it also represents a point of risk. They expect 3,543 launches of the 400-foot rocket in 2031, with about nine in 10 for the purpose of Musk's proposed orbital data centers.

-Nora Redmond

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07-17-26 1855ET