Space Exploration Technologies Corp. (NASDAQ:SPCX) shares are carrying Thursday’s losses into Friday. A last-second abort of the Starship test flight left the stock sitting comfortably below its $135 IPO price.
SpaceX stock is at significant support. What’s pressuring SPCX?
Engine Failures Force a Last-Second Starship Abort
The damage began during Thursday’s session when the stock shed 3.08% before sliding another 3.08% in after-hours trading to close at $127.07. The catalyst was a launch termination that came with mere seconds remaining on the countdown after four of Starship’s 33 Raptor engines refused to fire. The remaining 29 engines cut out automatically in response and ground crews began draining propellant from the vehicle shortly after.
Musk took to X to explain that two of the faulty engines would be pulled from the rocket entirely and swapped out before another window is attempted, with early next week identified as the earliest realistic opportunity for a second try.
