SpaceX shares went up during regular trading on Thursday as investors looked forward to the much-anticipated Starship test flight. However, the launch was delayed again, so the wait continues.
The delay caused SpaceX stock to drop in after-hours trading, but the company said weather, not a technical problem, was to blame. Shares fell 1.7% late in the day after SpaceX announced that Friday’s weather should be better for a launch. Earlier, the stock had risen 2.6%, doing better than the S&P 500 and Dow Jones, which both fell.
This came after the stock dropped 6.7% on Wednesday, even though there was no clear reason for the fall. The decline was part of a weak period after SpaceX’s record-setting IPO. Just the day before, the stock had ended a seven-day losing streak.
Worries about SpaceX’s high valuation have also affected investor mood. The company trades at about 40 times its expected 2026 sales, which is unusually high for a company of its size. Investors hope that a successful Starship flight will help the stock recover.
The test was first set for July 17 but was pushed back about a week because of an engine problem. Developing Starship is key to SpaceX’s long-term plans. The rocket is fully reusable and aims to lower the cost of reaching orbit by about 90% compared to the Falcon 9. RBC analysts say these lower costs are the main way SpaceX can create long-term value, making projects like orbital AI data centers possible.
SpaceX’s plans for Starship are ambitious. Morgan Stanley points out that the company wants to launch thousands of Starships each year. For comparison, there were about 330 total launches worldwide in 2025, and SpaceX did more than half of them. Morgan Stanley is optimistic that Starship could start carrying commercial payloads by the fourth quarter, but warns that more delays and problems are likely because the project is so challenging.
Rocket development is rarely smooth, and SpaceX has had several failed test vehicles over the years. However, the company has usually managed to overcome these setbacks in the end.
