SpaceX stock price fell again on Monday, sliding after SpaceX scrubbed a planned Starship test flight and said it would try again on Thursday. Shares traded below $123 and were about $12 under the IPO price, a gap that pushed the stock into territory the source described as a broken IPO.
SpaceX shares closed the prior week below $124 a share, then fell about 3% in the morning on Monday before trimming that loss to about 1% by 1:10 p.m. ET. Elon Musk said SpaceX would try "to try again in a few days after switching out the glitchy engines for new ones," putting the next attempt into a 90-minute window that opens at 6:45 p.m. ET.
Starship test flight and new engines
Multiple engines refused to ignite at launch, which forced the scrub and sent the company back to the pad with replacement hardware. That sequence matters because the failure was tied to ignition, not to a market rumor or a broad shift in the business, so the stock moved on the launch problem itself.
84 times trailing revenue is where SpaceX shares were trading, a level that places the stock between the growth-stock and value-stock labels the source used. Analysts predicted profitability next year, but that forecast remains a projection, not a result, and the valuation is still doing the work of a high-expectation story rather than a cash-flow one. Rich Smith has no position in any of the stocks mentioned, and SpaceX remains the name driving the move. For readers tracking the SpaceX Raises $75 Billion as Spacex Stock Price Drop Looms discussion, Monday's drop shows how quickly a launch delay can bleed into pricing.
Elon Musk and the Thursday window
Monday morning brought the first selloff, then SpaceX said it intended to launch on Thursday, with the window opening at 6:45 p.m. ET for 90 minutes. Elon Musk’s pledge to retry soon gave shareholders a near-term catalyst, but the market still used the one-week delay to mark the stock down instead of waiting for the engines to tell the story.
Whether the new engines fix the launch problem is the unresolved point now, because the stock already priced in disappointment once and punished the shares again when the schedule slipped. If Thursday clears the pad, the immediate pressure shifts from the scrub to execution.
