SpaceX Stock Slides Ahead of Crucial Starship Test

SpaceX's stock price has taken another hit, falling by 4% to around $113 as the company prepares for its Starship Flight 13 test. This decline marks a new closing low for the stock and brings it down 16% below its initial public offering (IPO) price of $135. The stock has also lost roughly half of its value since reaching a peak of $225.64 on June 16.

The upcoming Starship Flight 13 mission will test several key aspects, including stage separation, booster splashdown, and reentry performance. During the flight, the Super Heavy booster will target a controlled splashdown in the Gulf of Mexico, while the Starship upper stage is expected to deploy 20 Starlink V3 satellites before returning through Earth's atmosphere.

Analyst Seth Seifman noted that investors should expect both gains and setbacks as SpaceX expands its Starship testing. He added that analysts are watching refurbishment costs and timelines for the second stage, which remains an important test due to Starship's long-term business case depending heavily on reuse.