SpaceX NASDAQ:SPCX shares fell more than 3.5% in early Friday after the company halted a planned Starship test flight because of an engine issue, pushing the stock further below its $135 IPO price.
A 90-minute launch window opened from the company's Starbase facility in South Texas, but the countdown was stopped after some Raptor engines failed to ignite, triggering an automatic abort. Musk said two engines will be replaced before another launch attempt, which could take place early next week.
The mission would have marked the first flight of the upgraded Starship V3 vehicle since SpaceX's public listing in June. The fully reusable rocket is central to the company's long-term plans for satellite deployment, lunar missions and future deep-space exploration.
SpaceX shares have now declined for five consecutive sessions and traded more than 3% lower after hours, extending losses below the IPO price. The latest setback comes as investors continue to monitor Starship development alongside the company's broader AI and satellite expansion strategy.