SpaceX targets next week for another Starship launch attempt as shares slide on abort

SpaceX is preparing for another Starship launch attempt as early as Monday, following a last-second abort during engine ignition on Thursday. The setback, which saw four of the Starship booster's 33 engines fail to ignite, has already impacted the company's market value, wiping approximately $100 billion from its equity. SpaceX shares have fallen about 6% to $124.30 since the abort, dipping below the company's IPO price.

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Most probable launch timing is early next week.

Elon Musk attributed the abort to engines not starting and stated on X that SpaceX plans to replace two Raptor engines on the booster to ensure a successful flight. He indicated that the most probable launch timing is early next week, with the company's website suggesting a possible launch as soon as Monday, July 20.

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If this is how the market reacts to a precautionary abort, I can't wait to see how it responds to a successful flight.

This share price drop offers an early indicator of how investors might perceive the progress of the ambitious Starship program, which is central to SpaceX's future goals. Despite the recent volatility, some investors remain optimistic. Chad Anderson, CEO of Space Capital, noted that market reactions to precautionary aborts are expected and that the long-term thesis for Starship remains strong. He described the current situation as "day-to-day price action is noise against the backdrop."

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Zoom out and none of this changes the thesis: we're in the early innings of a multi-decade infrastructure cycle, and Starship is the centerpiece.

SpaceX employees have also shared insights into the event. Shana Diez, Director of Starship engineering, highlighted that this was the first time a fully stacked Starship rocket had ignited its engines and then aborted. She described the situation as a valuable learning experience, emphasizing that "this is how we learn safely and implement mitigations for all scenarios."

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Day-to-day price action is noise against the backdrop. This is a long-term opportunity.