SpaceX stock falls below IPO price again after Starship launch is scrubbed
SpaceX shares fell about 4% in premarket trading Friday after the company postponed a major Starship test launch, its first since the firm's blockbuster initial public offering in June. The stock closed below its IPO price for a second straight day.
SpaceX scrubbed a closely watched Starship test flight on Friday, the rocket's first attempt since the company's blockbuster stock market debut in June. The company did not immediately detail the cause of the delay or announce a new launch date.
Shares fell roughly 4% in premarket trading following the announcement, extending a slide that has now pushed the stock below its initial public offering price for a second consecutive trading day. Investors had been watching the launch closely as an early test of the company's execution as a public company.
SpaceX has not said when it will reschedule the test. Analysts said further delays could add pressure on the stock as investors weigh the company's ambitious launch schedule against the technical risks of the Starship program.
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