SpaceX’s Shares Tank After Starship Fails to Launch - Futurism
SpaceX shares dropped significantly following a failed Starship launch attempt and broader market concerns regarding the company's merger with xAI. Despite the stock decline, some analysts maintain a bullish outlook on the company's long-term valuation.
Why it matters
The volatility reflects investor anxiety over the high-stakes integration of AI and aerospace, as well as the financial performance of Musk's combined ventures.
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SpaceX was forced to scrub the 13th test flight of its hulking Starship spacecraft Thursday evening. A computer system automatically aborted the launch as the mega rocket fired up its engines and as the countdown struck zero, with SpaceX CEO Elon Musk noting afterwards that “some of the engines didn’t start.”
“Next launch attempt hopefully in a few days,” he added.
The aborted flight is a sobering parallel to the rocket company’s performance on Wall Street. It’s notably the first Starship launch attempt since SpaceX went public last month.
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