On July 17, SpaceX declined 3.14% overnight, trading at $127.13/share, with turnover of $863,200. The drop was triggered by the aborted Starship 13th flight test — the company's first launch attempt since its historic IPO in June.
The Starship was scheduled to lift off at 5:45 PM local time from SpaceX's Starbase facility in southern Texas, but multiple Raptor engines failed to ignite, triggering an automatic abort procedure less than one second before launch. CEO Elon Musk stated on social media that the next launch attempt is expected within days. The mission was intended to validate the V3 system and deploy 20 next-generation Starlink satellites.
The abort compounded existing downward pressure. SpaceX had already closed down 3.1% at $131.11 during regular trading — its first close below the $135 IPO price. The stock has now fallen over 40% from its post-IPO high of $225.64. Meanwhile, short interest has surged to approximately 1.85 billion shares, representing 29% of the float, with short sellers accumulating paper profits of nearly $38.8 billion according to S3 Partners data.
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