SpaceX (SPCX) Stock Drops 6% After Musk Says Starship Catch Is Still Months Out

TLDR

• SpaceX stock dropped 6.4% to $130.66, falling below its $135 IPO price on Thursday.
• CEO Elon Musk said the Starship upper stage catch will likely happen “in a few months,” not imminently.
• The 14th Starship test was expected to feature the upper stage catch using mechanical tower arms.
• William Blair analyst Louie DiPalma rates the stock Outperform, saying a few months delay is not consequential.
• SpaceX aims to launch Starmind AI computing satellites as soon as 2027, which likely requires Starship.

SpaceX (SPCX) stock dropped 6.4% to $130.66 in midday Thursday trading, slipping below its $135 IPO price after CEO Elon Musk pushed back the timeline for catching the Starship upper stage with the launch tower.

Space Exploration Technologies Corp., SPCX

Musk posted on X that the company would “probably catch the ship with the tower in a few months,” walking back expectations that the milestone would come on the next test flight.

Looks like we will probably catch the ship with the tower in a few months. If there had been a tower out to sea where we practiced landing the ship, it would have been caught.

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