SpaceX shares dropped to a new all-time low of $132.75, falling below their IPO price of $135, and closed at $135.27.
SpaceX shares are now down over 30% from their all-time high and approximately 12% year to date, marking a setback for investors who saw the private-market value of SpaceX only increase in the months before its IPO.
SpaceX is set to attempt its 13th test flight of the Starship rocket, likely scheduled for Thursday night. The rocket, the largest and most powerful ever built, is the second launch of Starship’s Version 3, a larger and more powerful design that debuted less than two months ago.
In its most recent launch in May, the Super Heavy booster sustained heat damage during separation because it was pushed into an unintended position, leading to the failure of some engines to reignite upon return, resulting in the booster being lost.
SpaceX stock surged over 40% in its first two trading sessions, at one point surpassing the valuations of both Amazon and Microsoft.
By CEO NA Editorial Staff
