SpaceX cancels Starship test flight after engine failure, stock slides post‑IPO

SpaceX called off the latest attempt to launch its Starship spacecraft after several of the vehicle's engines failed to ignite. The scrub marked the first test flight since the company’s initial public offering a month earlier.

Shares of SpaceX have fallen sharply since the IPO, dropping from a peak of $225 in mid‑June to below $120, well under the $135 offering price, leaving early investors underwater. The launch issue adds to concerns about the company’s ability to deliver the Starship platform that underpins its Starlink satellite network, NASA lunar missions and multibillion‑dollar Pentagon contracts.