SpaceX shares fall to new all-time low as investor caution persists despite successful Starship rocket test
SpaceX shares hit a new all-time low on Monday, dropping to $113.50. This decline follows a successful 13th test flight of the Starship rocket, which deployed 20 next-generation Starlink V3 satellites. Despite the technical milestone, investor caution remains high as the company prepares for its first earnings report and a significant share unlock on August 6th, where up to 20% of eligible locked-up shares may be sold. Analysts note that SpaceX is betting aggressively on Starship's reliability to replace the proven Falcon 9. While the company's market cap has shed over $1.2 trillion since its June high, some traders remain optimistic about the long-term potential of the company's 'intergalactic-sized moat.' Volatility is expected to continue as the market evaluates the cost of refurbishing the second stage and the speed at which SpaceX can ramp up flight rates. The stock has shed nearly 30% from its market debut last month.