Key Takeaways
- Four Raptor engines failed to fire during Thursday’s Starship V3 launch attempt, triggering an automatic abort sequence at ignition
- Elon Musk announced plans to remove and replace two engines, with the next launch window targeting early next week
- After-hours trading saw SPCX shares plummet over 3%, settling at $131.11 — beneath the company’s $135 IPO entry point
- SpaceX received FAA authorization to resume flights Monday following an investigation into May’s booster mishap
- The mission intended to deploy 20 advanced Starlink satellites, crucial for the company’s space-based data center strategy
Shares of SpaceX (SPCX) tumbled more than 3% during after-hours trading Thursday, declining to approximately $125 following the company’s second failed Starship V3 launch attempt. Regular trading had concluded with SPCX at $131.11, already trading beneath its $135 initial public offering price from June.
Space Exploration Technologies Corp., SPCX
The abort occurred precisely at the moment of ignition. While the launch pad’s water suppression system had activated and booster engines began their startup sequence, the entire operation abruptly terminated. Telemetry data from SpaceX’s live stream revealed that four Raptor engines failed to achieve ignition, activating the vehicle’s automated safety abort protocol.
“A number of the engines failed to initiate, which triggered an automated abort,” CEO Elon Musk posted on X. He subsequently confirmed that two Raptor engines will undergo removal and replacement, positioning the next launch attempt for sometime early in the following week.
The launch scrub prolongs SPCX’s consecutive five-day decline. Shares have experienced consistent downward pressure since the company’s groundbreaking IPO on June 12, which secured $85.7 billion in capital — establishing the largest public offering in financial history — and momentarily achieved market capitalizations rivaling Amazon and Microsoft.
Mission Objectives for the Aborted Flight
Thursday’s planned flight was designed to transport 20 next-generation Starlink satellites to low Earth orbit. Following deployment, the satellites were programmed to extend their solar panels and communication antennas, establish brief connectivity with the existing Starlink network, then undergo controlled atmospheric reentry approximately 20 minutes post-deployment.
SpaceX has yet to successfully demonstrate Starship’s capability to achieve sustainable Earth orbit, explaining why these satellites were engineered for rapid atmospheric disposal. Despite this limitation, the mission represented a critical milestone in validating the “orbital data centers” concept — a cornerstone of SpaceX’s future revenue model.
Currently, Starlink stands as SpaceX’s sole profit-generating division and primary income source.
Recent FAA Authorization Granted
The Federal Aviation Administration granted SpaceX clearance to resume flight operations this past Monday, concluding a required review triggered by the initial V3 launch in May. During that flight, the Super Heavy booster experienced an engine malfunction during its descent phase, resulting in an uncontrolled crash into Gulf of Mexico waters instead of completing its planned simulated touchdown.
The FAA’s official mishap investigation identified two primary root causes: thermal damage to propulsion components during the ascent phase and incorrect engine monitoring system configurations. SpaceX implemented four remedial measures, encompassing both hardware modifications and software upgrades.
The upper stage during May’s mission demonstrated superior performance, successfully deploying Starlink test units and executing its simulated ocean landing without complications.
Thursday’s abort necessitates that SpaceX drain all propellant from both the Super Heavy booster and upper stage before engineering teams can commence diagnostic analysis of the Raptor ignition failure.
SPCX was trading near $125 during Friday’s pre-market session, reflecting approximately a 4.65% decrease from Thursday’s closing price.
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