SpaceX shares dropped roughly 4% on Friday, hovering near $113 ahead of a critical Starship test flight, marking a continued slump from its $135 IPO price and a steep fall from mid-June highs above $225.
The upcoming Starship Flight 13 is set for launch Friday evening from Boca Chica, Texas, aiming to validate key elements like stage separation, booster splashdown, and reentry capabilities. This mission carries substantial weight, coming shortly after a failed launch attempt last week due to engine issues.
During this flight, the Super Heavy booster is scheduled for a controlled splashdown in the Gulf of Mexico, but neither it nor the Starship upper stage will be recovered. The upper stage will deploy 20 Starlink V3 satellites and then target a splashdown in the Indian Ocean, adding a new layer of data with six satellites equipped with high-resolution cameras to monitor heat shield performance during reentry.
JPMorgan analyst Seth Seifman highlighted that Flight 13 will be closely scrutinized, especially concerning refurbishment costs and the durability of the second stage, which is critical for SpaceX’s plan to reuse Starship components extensively.
Meanwhile, SpaceX reportedly is declining new Falcon 9 launch customers beyond 2028 and halting new reservations for its Falcon 9 rideshare program, signaling a strategic pivot toward Starship as a future revenue driver, though Falcon 9 remains vital for commercial satellite missions.
