SpaceX stock hits new all-time low despite 'over the moon' Starship test - Yahoo Finance

What the report says

Yahoo Finance reported that SpaceX shares rebounded Tuesday after touching a record low the previous day, even as the company celebrated a major Starship test. The stock, trading under SPCX, fell 4% early before finishing 2.6% higher. On Monday it reached $109.53, its lowest level since listing, and closed at $113.50. Yahoo said the shares are down nearly 30% from last month’s $150 debut price and about 50% below their peak of $225.64.

The report linked investor unease to SpaceX’s upcoming second-quarter earnings, scheduled for Aug. 4, and a lockup expiration on Aug. 6 that could allow as much as 20% of shares to be sold. The pressure comes shortly after Starship’s 13th test flight from Starbase, Texas, on Friday, the first since SpaceX’s June IPO. The vehicle deployed 20 next-generation Starlink V3 satellites, restarted an engine in space and achieved what the company described as its softest ocean splashdown.

The test was not flawless. Yahoo reported that the Super Heavy booster completed separation and a flip maneuver, but not all 13 engines ignited for its landing burn, leading to a harder-than-planned impact in the Gulf of Mexico. Neither stage was intended for recovery. SpaceX is considering a more ambitious next step: CEO Elon Musk wrote that, barring problems in the data review, the company would try to catch the Starship upper stage with its launch tower on Flight 14.

The stock move matters because Yahoo said investors are weighing SpaceX’s increasing dependence on Starship as it reduces some Falcon 9 commitments. Analysts cited by the report warned that valuation will hinge on Starship reliability, refurbishment costs and whether SpaceX can raise launch frequency fast enough.