Shares of SpaceX have faced significant turbulence, posting losses in nine out of the last ten trading days and plummeting nearly 23% since the company's high-profile inclusion in the Nasdaq-100. This downturn comes as investors closely monitor the performance of Elon Musk's aerospace and artificial intelligence empire following its blockbuster initial public offering.
Friday's trading session saw SpaceX's stock dip another 5.43%, marking a sixth consecutive day of losses. This recent slide was triggered by the aborted test flight of its highly anticipated Starship rocket the previous day.
SpaceX employees go to work at the SpaceX facility in Hawthorne, California, on the day of their company's initial public offering, June 12, 2026.
Mike Blake | Reuters
The aerospace giant had planned to launch its Starship mega rocket on Thursday, within a 90-minute window starting at 5:45 p.m. in Texas. However, an unexpected engine ignition failure forced SpaceX to scrub the ambitious launch.
"Some of the engines didn't start, triggering an automatic launch abort," billionaire founder Elon Musk explained in a post on X (formerly Twitter). He added, "Now offloading propellant. Next launch attempt hopefully in a few days." Musk later updated, stating that two Raptor engines would be removed and replaced, with a rescheduled launch planned for early next week.
The Nasdaq accelerated SpaceX's entry into its prominent index, a rare move that allowed its inclusion after just 15 trading days, foregoing the usual months-long waiting period. This expedited inclusion has intensified investor scrutiny on the company's operational milestones, especially rocket tests.
SpaceX's initial public offering in June was historic, raising a record $85.7 billion with shares priced at $135. Since its debut, the stock has experienced significant volatility, oscillating between periods of rapid ascent and sharp declines.
Thursday's aborted launch was intended to be the first test flight for Starship V3 since its IPO. A prior attempt in May also encountered issues, with the Starship's upper stage heading towards the Indian Ocean and the Super Heavy booster failing a controlled landing in the Gulf of Mexico after five of its 33 Raptor engines malfunctioned. Following an investigation, the U.S. Federal Aviation Administration (FAA) cleared SpaceX on Monday to resume its test trials.
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