SpaceX Falls 23% Post-Nasdaq-100 As Starship Test Aborts
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- SpaceX stock has plunged nearly 23% since joining the Nasdaq-100, posting losses in 9 of the last 10 trading days including a 5.43% drop Friday — its sixth consecutive losing day.
- SpaceX shares fell after the company scrubbed its first Starship V3 test flight since its $85.7 billion June IPO, the largest in history.
- Elon Musk said Thursday's Texas launch was automatically aborted when "some of the engines didn't start," forcing SpaceX to offload propellant.
- Musk said two Raptor engines will be removed and replaced, with a new launch attempt planned for early next week.
- A prior Starship test in May failed when the upper stage headed toward the Indian Ocean and the Super Heavy booster lost 5 of 33 Raptor engines during a failed controlled Gulf of Mexico landing.
- The FAA investigated the May mishap and cleared SpaceX on Monday to resume test trials.
- The Nasdaq fast-tracked SpaceX's index inclusion to just 15 trading days, far faster than the typical multi-month wait.
Why it matters: With SpaceX losing nearly 23% since its accelerated Nasdaq-100 inclusion and a sixth straight losing day following an engine-related Starship scrub, the $85.7 billion June IPO's investors now face rocket reliability as the key swing factor. Thursday's V3 abort — coming just days after the FAA cleared SpaceX to resume tests — suggests engine issues may not yet be resolved.
