SpaceX shares hit post-listing low after intact Starship Flight 13 splashdown
Flight 13 deployed 20 Starlink V3 test satellites and ended with an intact splashdown, but shares fell to a record post-listing low around $110.60 ahead of first earnings and a 911.6 million-share lockup expiry.
SpaceX completed a largely successful Starship Flight 13 on July 24, deploying 20 Starlink V3 test satellites, reigniting Starship’s engines in space and bringing the spacecraft down for an intact splashdown while transmitting telemetry data, according to the company and Elon Musk. But the technical milestone did not halt stock weakness: shares later fell to a fresh post-listing low, with market data showing SPCX down about 3.9%-4% at roughly $110.60 on July 27, versus a July 24 close of $115.07 and about 15% below its $135 IPO price. Investor focus is shifting to Aug. 4, when SpaceX is scheduled to report its first earnings and an insider lockup covering 911.6 million shares is due to expire, as valuation views remain sharply split between Morgan Stanley’s $300 12-month target and Morningstar’s $63 fair value estimate.
- telemetry: Operational data transmitted from a spacecraft to teams monitoring the mission.
- lockup: A post-IPO restriction that limits when insiders can sell shares.
- low-Earth orbit: A region of space relatively close to Earth where many satellites operate.