- SpaceX stock sank to a new all-time low of $109.53 on Monday, just days after a successful test of its Starship rocket.
- The Starship launched Friday evening from Starbase, Texas, marking its thirteenth test flight, the first since SpaceX's June IPO.
- Shares have fallen 18% since the company's IPO on June 12, where the initial price was $135.
- "I'm a little over the moon right now," said SpaceX spokesperson Dan Huot regarding the recent Starship test.
SpaceX stock hit a new all-time low of $109.53 on Monday, marking an 18% decline since its June IPO. This drop follows a successful test of the Starship rocket, which launched from Starbase, Texas, on its thirteenth flight.12
Despite the successful test, shares are trading at about half of their June peak of $225.64. SpaceX spokesperson Dan Huot expressed optimism, stating, "I'm a little over the moon right now" regarding the test. However, analysts are concerned about the company's strategy, as it increasingly focuses on Starship at the expense of its more profitable Falcon 9 rocket.4
Alex Morris, CEO of F/m Investments, commented on the stock's future, saying, "I think you're going to see double digits in stock price, and that's probably not a terrible thing". The market's reaction indicates skepticism about SpaceX's aggressive investment in Starship, which may be impacting investor confidence.
As SpaceX navigates these challenges, the future of its stock remains uncertain, with many watching closely to see how the company balances its ambitious projects with financial stability.
“Shares fell to $109.53, about half of their June peak of $225.64, reflecting investor concerns as SpaceX shifts focus from its profitable Falcon 9 to the Starship program. CEO Alex Morris noted that a stock price in double digits might not be a bad thing, indicating a potential shift in market sentiment.”
Yahoo Finance
