SpaceX aborts Starship test flight, sending stock lower - CNBC
SpaceX aborted the test flight of its Starship rocket after engine issues were detected during the ignition sequence. Elon Musk stated that the company plans to replace two engines and attempt the launch again early next week.
Why it matters
As a major player in the aerospace industry, SpaceX's technical setbacks impact both the commercial space sector and the company's market valuation.
SpaceX scrubbed the launch of its Starship mega rocket on Thursday, with CEO Elon Musk pledging to make another attempt "hopefully in a few days."
A 90-minute launch window opened at 6:45 p.m. ET, and within minutes, the reusable rocket maker announced on a livestream that it was standing down for the day.
"Some of the engines didn't start, triggering an automatic launch abort," Musk wrote in a post on X . He added later in another X post : "To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week."
Shares of SpaceX fell more than 3% in extended trading, sinking further beneath its IPO price of $135. The stock is on a five-day losing streak.
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