SpaceX Stock Falls to Record Low Ahead of First Post-IPO Starship aborts 

SpaceX shares hit a new all-time low this week as the company aborts for its most significant rocket test flight since going public.

Stock Performance Under Pressure

SpaceX shares dropped to $131.75 on Friday, falling below the company’s IPO price of $135, before closing slightly higher at $135.27. The stock is now down more than 30% from its all-time high and roughly 10% for the year, with shares trading slightly lower again in Thursday’s session.

A Major Catalyst on the Horizon

Despite the stock’s struggles, tonight brings a potential turning point. SpaceX is set to attempt its 13th test flight of Starship, the largest and most powerful rocket ever built, marking the vehicle’s first launch since the company’s June 12 initial public offering.

What Tonight’s Launch Will Test

As of Thursday morning, Starship was fully stacked and ready at Starbase’s launch pad. Booster 20, the Super Heavy vehicle supporting the mission, was moved into position the day before, with the upper-stage Ship 40 joining it overnight for final stacking ahead of liftoff. This also marks the second flight of Starship’s newer Version 3 design, which debuted less than two months ago.

According to SpaceX, the primary goals were for this flight include a successful launch, stage separation, and a controlled return of the booster to an offshore landing point in the Gulf of Mexico. Starship itself is expected to deploy 20 Starlink V3 satellites before attempting a controlled descent, with splashdown planned in the Indian Ocean.

Wall Street Takes a Measured View

While investors are hoping for a clean success, analysts are approaching the event cautiously. JPMorgan’s Seth Seifman noted that progress and setbacks are both expected as SpaceX works toward launching Starship dozens of times next year, growing to hundreds of launches by 2028, and eventually thousands beyond that. Rather than focusing solely on flight performance, Seifman said he’s more interested in how quickly and cost-effectively the second stage can be refurbished and reflown after the stress of reentry, calling that reusability question central to Starship’s long-term business case.