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SpaceX Update [1]

['Greg Dworkin', 'Crimson Quillfeather']

Date: 2026-07-17  

Last week I highlighted the developing selloff in SpaceX stock, which was already down about 10% from its actual IPO on June 14, and over 27% from its June 16 high. Well yesterday Flight 13 didn’t go quite as planned (4 of its 33 engines failed to ignite, and the launch was aborted before it could lift off), and even though there was no ‘rapid unscheduled disassembly’ this time, investors still weren’t favorably impressed as its share price dropped another 5.4% today alone, and closed out the week down 14.5% from last week, and a whopping 45% from its all-time intraday high of $225. From CNBC SpaceX aborts Starship test flight, sending stock lower

The rocket was poised for takeoff from SpaceX’s Starbase complex in South Texas when a hold was triggered on the booster, which “shut down the engines right as they were starting to ignite,” a SpaceX employee said on the livestream. It would’ve been the first test flight of Starship V3, an upgraded version of its roughly 400-foot-tall rocket, since SpaceX’s blockbuster initial public offering last month. … As part of Thursday’s mission, Starship planned to ferry 20 functioning, next-generation Starlink satellites, which were expected to extend their solar arrays and antennas, then attempt to connect with the broader Starlink constellation, SpaceX said. The satellites are expected to “demise upon reentry approximately 20 minutes after deployment,” the company noted. Investors are closely watching the 13th Starship test flight as the giant rocket is key to SpaceX ambitions to scale its Starlink satellite internet service, and to complete Artemis test flights with NASA as it aims for the U.S. space agency’s next moon landing.

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

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[1] Url: https://www.dailykos.com/stories/2026/7/17/800071730/community/sp/

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