SpaceX Pushes Starship Launch To Thursday After Stock Slump

SpaceX is now targeting Thursday, July 23, for its next Starship launch attempt, according to a company statement issued Sunday. The date shifted after some early confusion, with CEO Elon Musk first mentioning Friday on social media before clarifying that Thursday was correct.

What Went Wrong On The Last Attempt

The rocket’s 13th flight test was called off in the final seconds before liftoff on July 16 due to an engine ignition issue. SpaceX says it has since made changes to Starship’s propulsion system to fix the problem. Delays like this aren’t unusual for the $15 billion development program, which has a track record of both major engineering milestones and dramatic testing failures. The upcoming flight is meant to carry 20 Starlink satellites to test the ship’s deployment system and laser communication links, though the satellites won’t reach orbit and will burn up during re-entry.

Stock Takes A Hit

The scrubbed launch has weighed heavily on SpaceX shares, which have dropped 43% from their record high and fallen below the original IPO price for the first time. The company has lost over $1 trillion in market value since peaking in mid-June, with short-sellers increasingly betting against the stock.