Starship doesn't take off, SpaceX shares fall and Musk's fortune shrinks

Read also: SpaceX shares soar almost 20% in Nasdaq debut SpaceX IPO: how can a company that loses billions be worth US$1.75 trillion? Elon Musk becomes the first trillionaire in the history of humanity Test would boost shares The postponement of the mission frustrated the expectations of investors, who expected that a successful test of Starship would boost SpaceX's shares. On the eve of the launch attempt, analysts at UBS bank stated that the recent fall in the company's shares could represent a buying opportunity precisely because the flight had the potential to increase the company's market value. In the bank's assessment, the test would serve to prove important advances in the development of the rocket, including improvements in systems that will be used in upcoming missions and in the launch of Starlink network satellites. A few hours before the scheduled takeoff, however, Musk reported that part of the engines did not start operating, which led to the postponement of the mission. Later, in a publication on the social network X, the businessman stated that a new attempt should take place "at the beginning of next week".

Rocket is a key part of SpaceX's plans Starship is considered SpaceX's main project to transport cargo and people to the Moon and, in the future, to Mars. At around 120 meters high, the vehicle is considered by the company to be the largest rocket ever built and occupies a central position in the growth strategy presented to investors during the company's IPO. The testing history, however, includes a series of setbacks. In May, for example, another flight ended without the main thruster being able to make a controlled landing after engine restart failures. In previous tests, some missions also ended in explosions.