After the market value has evaporated by more than one trillion US dollars, can the successful test flight of Space X starship boost the stock price?
When the stock price recently fell below the IPO issue price and hit a record low, the SpaceX starship took off in Texas and completed its 13th test flight. On July 25, Beijing time, when the super-heavy booster splashed down in the Gulf of Mexico and the Starship upper-stage spacecraft completed a controlled splashdown in the Indian Ocean, bursts of cheers came from the live broadcast room of SpaceX’s 13th Starship test flight. SpaceX CEO Elon Musk posted on social media: "The Starship is intact, floating in the ocean and transmitting telemetry data.
When the stock price recently fell below the IPO issue price and hit a record low, the SpaceX starship took off in Texas and completed its 13th test flight. On July 25, Beijing time, when the super-heavy booster splashed down in the Gulf of Mexico and the Starship upper-stage spacecraft completed a controlled splashdown in the Indian Ocean, bursts of cheers came from the live broadcast room of SpaceX’s 13th Starship test flight. SpaceX CEO Elon Musk posted on social media: "The Starship is intact, floating in the ocean and transmitting telemetry data." SpaceX also posted that the Starship deployed 20 Starlink V3 satellites for the first time and provided valuable data while traveling through the atmosphere, space and ocean. In addition, the SpaceX Starlink team has successfully contacted all 20 V3 satellites. It is understood that these satellites briefly glide for about 20 minutes before re-entering the atmosphere and burning up, and will not stay in orbit for a long time. According to the test flight status announced by SpaceX, the flight process was smoother than before, and the first complete verification was completed. In the previous 12th test flight, although the Starship successfully deployed a simulated satellite, the first-stage Super Heavy booster failed to complete the return burn and eventually crashed into the Gulf of Mexico in an uncontrolled state. During this flight, after re-igniting the three Raptor engines, the starship performed a landing flip, landing ignition and soft splashdown, and finally floated intact in the Indian Ocean, providing important images of an intact thermal protection system for the first time. However, the first-stage Super Heavy booster still failed to perfectly complete the return process to Earth. SpaceX said that the booster tried to re-ignite the engines for landing ignition, and part of the engines successfully ignited and eventually splashed down hard in the Gulf of Mexico. It is worth noting that this test flight is of great significance for technical verification. It is understood that SpaceX’s core goal is to achieve complete reusability of the Starship, that is, both the super-heavy booster and the Starship spacecraft can be returned to Earth intact and used again. Previously, Musk also stated on social media that Starship V3 will be fully reusable. For the capital market, it remains to be seen whether the completion of the 13th test flight of SpaceX Starship can play a role in supporting the stock price. Before this test flight, SpaceX's stock price once again experienced a volatile decline. On Thursday afternoon Eastern Time last week, the 13th test flight of SpaceX Starship was delayed due to the failure of some engines to start. The next day, SpaceX's closing price fell below the IPO issue price to $123.99 per share. Currently, SpaceX continues to decline as a whole, with a cumulative decline of 7.2% in the past five trading days. On July 24, SpaceX’s stock price hit a record low, closing at US$115.07 per share, with a market value of US$1.51 trillion. More than US$1 trillion has been evaporated from its high point. Morgan Stanley analyst Adam Jonas said the sell-off in SpaceX stock has pushed its stock price to a level close to where the market does not value its AI business at all. The analyst said many investors expect SpaceX's stock price to fall further and hit $100 per share when the lock-up period on the first batch of shares is lifted next month, allowing some insiders to sell. Jonas believes that at this level, investors are placing zero or even negative value on SpaceX’s artificial intelligence business. “Most investors we’ve spoken to have placed significant discounts on Grok and Cursor,” Jonas said. “Many value AI at zero or even negative because of its high capital expenditure requirements, largely uncertain economic returns compared to space and connectivity businesses, and the significant time management has invested in the business.” In addition, multiple media reports have recently stated that SpaceX has begun to refuse satellite operators to use its main rocket Falcon 9 to book exclusive launch services after 2028. According to reports citing people familiar with the matter, this highlights Musk’s heavy bet on the Starship rocket. People familiar with the matter also said that SpaceX's plans may change due to various reasons, such as the Starship spacecraft encountering setbacks during the development process.