SpaceX stock drops to new low after Starship test abort

SpaceX shares fell to a new low on Friday, July 17, 2026, after the company aborted the thirteenth test flight of its Starship rocket just minutes before its scheduled launch from Texas the previous day. The stock dropped nearly 5% to approximately $125, trading below its $135 initial public offering price for the first time since its historic market debut in June.

The launch attempt on Thursday, July 16, was automatically halted after at least two Raptor engines on the rocket's Super Heavy booster failed to ignite properly during the startup sequence. Chief Executive Elon Musk stated that the company would replace the two engines and is targeting early the following week for another attempt. A specific rescheduled date of Monday, July 20, at 6:45 p.m. ET was announced by the company.

The technical setback and subsequent stock decline represent the first major challenge for SpaceX since its public offering, which raised $85.7 billion. The company's market capitalization has fallen significantly from its June peak, erasing nearly $1 trillion in value. The decline extends a losing streak that began after early investor enthusiasm cooled and profit-taking commenced.