Starship Delay Sends SpaceX Stock Into 5% Tailspin, But One Influencer Still Sees Moon ⭐

SpaceX (SPCX) stock fell nearly 5% to $124.68 on Friday, slipping further below its IPO price of $135 and extending a losing streak that began after shares hit a post-IPO low on July 17. Selling pressure accelerated following the last-minute abort of the company's Starship test flight, which was postponed after two Raptor engines failed during pre-launch checks, according to CoinGape reporting.

Over the past three sessions, the stock has continued its downward move, prompting concern among traders about the equity's near-term trajectory. Despite the slide, market commentator and influencer Sawyer Merritt characterized the selloff as an overreaction to a short launch delay, maintaining a bullish stance on the SpaceX stock price.

The Starship test flight postponement emerged as the immediate catalyst, compounding existing pressure that has weighed on shares since the listing. SPCX remains below its $135 offering price, and Friday's decline marks another leg lower in a pattern that has drawn attention from retail traders monitoring post-IPO performance.

SpaceX has not publicly commented on the latest stock movement or the engine failures that triggered the launch abort. The Starship program remains central to the company's longer-term positioning, with further test flights anticipated in the coming months.

Merritt's continued bullish commentary adds a notable data point for traders weighing the path forward, though price action on Friday underscored the near-term risk sentiment surrounding SPCX. As of the close, shares were trading at $124.68.