SpaceX Pulls Off First Starship Launch Since Nasdaq Debut as Stock Rebound Comes Into Focus

SpaceX, whose shares have struggled since its Nasdaq debut, has successfully completed a test flight of its super-heavy Starship rocket, sharpening investor focus on the stock's next move. The success is drawing attention as a potential catalyst for recovering market sentiment.

SpaceX completed Starship's 13th test flight, the company's first since listing on Nasdaq. The mission successfully placed 20 Starlink V3 test satellites into low-Earth orbit.

After launch, the Super Heavy booster, or first stage, splashed down in the Gulf of Mexico, while the Starship spacecraft, or second stage, came down in the Indian Ocean. The company also completed a key objective by reigniting Starship's engines in space. Chief Executive Officer Elon Musk said the spacecraft was floating intact at sea and transmitting telemetry data.

The market response has been muted so far. SpaceX shares began trading at their $135 initial public offering price and later rose to a post-listing high of $201.8 before trending lower. The stock closed at $115.07 on July 24, nearly half that peak, according to Investing.com.

A financial industry official said concern over AI investments financed through debt has put downward pressure on the shares, while the lack of earnings support has kept investor sentiment weak. The latest launch success now becomes a test of whether it can revive investor expectations. SpaceX is scheduled to post its first earnings report on Aug. 4, the same day an insider lockup is due to expire. The number of shares set to be released totals 911.6 million.

Long-term views remain split. Starship, which stands 124 meters tall and produces 8,240 tons of thrust, is slated to serve as the lunar lander for NASA's 2028 crewed moon mission. Jared Isaacman said Starship would be a game changer for space technology once it enters full operation and would play a major role in lunar exploration. Reflecting that optimism, Morgan Stanley set a 12-month price target of $300, while Morningstar valued the shares at $63.

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