SpaceX aborts first Starship launch since its massive IPO

• SpaceX’s Starship launch aborted due to engine issues.
• Elon Musk confirmed that some engines failed to start, causing a launch abort.
• SpaceX’s shares dipped below the $135 IPO price after hours.

SpaceX called off its first Starship launch since its massive IPO in June.

On Thursday, SpaceX backed away from a launch attempt of its upgraded Starship rocket after an engine issue triggered an automatic abort before liftoff at the company’s Starbase facility in South Texas.

CEO Elon Musk said in a post on X that “Some of the engines didn’t start, triggering an automatic launch abort.” He added that the company would try again, “hopefully in a few days.”

The launch was meant to mark Starship’s return to flight weeks after the debut of the V3 vehicle in May.

Thursday’s test was also the first Starship launch attempt since SpaceX’s June 12 public debut, which raised more than $85 billion in what the company described as the largest IPO in history. After briefly reaching a market valuation comparable to Amazon and Microsoft, SpaceX shares have since retreated.

The stock closed Thursday below its $135 IPO price. Shares fell more than 4% in after-hours trading following the aborted launch before recovering some of those losses.

SpaceX did not immediately respond to a request for comments.