SpaceX Starship Test Flight Delay Pressures Shares

The SpaceX Starship test flight ended before liftoff when an ignition issue activated the automatic abort system. The cancellation put additional pressure on the company’s stock amid uneven trading since its public debut.

Thursday’s countdown ended before liftoff

The Starship mega rocket was due to depart from Texas during a 90-minute period that opened Thursday at 5:45 p.m. Several engines did not turn on, so the automated safety system stopped the launch.

Founder Elon Musk reported that propellant was being unloaded. His first update suggested the company could try again within several days.

Technicians will exchange two Raptor engines before SpaceX makes another attempt.

SpaceX will exchange two Raptor engines

Musk subsequently said technicians would remove two Raptors and install replacements. Another attempt is scheduled for early next week.

Investor scrutiny has increased because this was the first Starship V3 test conducted after SpaceX completed its June initial public offering.

Post-IPO price swings continued

In Friday’s premarket session, the stock was 3.5% lower. That followed an after-hours decline exceeding 3%. SpaceX collected a record $85.7 billion through its June offering, which the source identified as history’s biggest IPO. The shares were sold initially for $135 and have fluctuated since entering public markets.

May’s mission prompted federal review

During the preceding attempt in May, the upper stage traveled toward the Indian Ocean. The Super Heavy booster could not execute its planned Gulf of Mexico landing because five Raptors, from a total of 33, did not restart.

The Federal Aviation Administration directed SpaceX to investigate that incident. On Monday, the regulator authorized the company to proceed with further tests.

The next launch remains dependent on replacing the two engines and preparing the system for another countdown.