SpaceX shares dropped to a new low on Monday, July 27, 2026, falling 1.4% and extending a market capitalization decline of more than $1 trillion since mid-June, even as financial analysts praised the near-flawless 13th test flight of its Starship megarocket from Starbase, Texas.
The latest megarocket mission lifted off on July 24, 2026, after a handful of delays pushed the launch back by about a week. While SpaceX completed all major mission objectives—including the successful deployment of 20 production-version Starlink V3 satellites on a suborbital trajectory—the stock market punished the company’s valuation as investors weighed looming public-market pressures and an imperfect booster landing.
Mission Successes and the Starlink Milestone
The 13th test flight achieved significant technological milestones for the commercial space titan. Starship placed 20 of the newest Starlink satellites into orbit at an altitude of approximately 200 kilometers, marking the first time production-version Starlink V3 satellites were deployed by the vehicle. During a brief 20-minute communication window before atmospheric reentry, six of the newly deployed spacecraft successfully exchanged data through laser and radio links while capturing remarkably clear imagery.
Those six satellites carried onboard cameras and pressure sensors specifically designed to monitor the spacecraft’s thermal protection shield. Universe Space Tech reported that the satellites photographed the heat shield and transmitted high-resolution images back to Earth while Starship rocked on the ocean waves, providing engineering teams with crucial performance data.
Following satellite deployment, the upper stage executed a successful in-space Raptor engine restart and carried out a soft splashdown in the Indian Ocean. The vehicle remained intact and floated vertically, giving engineers ample thermal data. Elon Musk noted in a post on X that the mission provided all the heat-shield data we needed and then some.
NASA Administrator Jared Isaacman also congratulated the team, emphasizing that the collected data will directly support future missions, including NASA’s Artemis III lunar landing goals.
Booster Landing Complications and Wall Street Reactions
Despite the upper stage’s historic splashdown, the Super Heavy V3 booster encountered a material issue during its return phase. When the vehicle attempted to relight 13 engines for its landing burn, only about five ignited properly, resulting in a fast descent and a hard splashdown in the Gulf of Mexico.
Financial institutions maintained largely bullish stances on the overall program despite the booster hiccup. Morgan Stanley assigned the mission an overall grade of “A-“ and maintained its Overweight rating alongside a $300 price target. KeyBanc analyst Michael Leshock also praised the test as near-perfection, noting that Flight 13 could lead to a Starship catch attempt at the launch pad on its next test flight.
Valuation Pressures and Upcoming Earnings Overhang
Even with positive brokerage assessments, SpaceX shares fell 1.4% on Monday to close at a new low, compounding a steep market capitalization loss of more than $1 trillion since the stock peaked on June 16, 2026. Market analysts point to looming structural pressures rather than technical flight failures as the primary driver behind the ongoing sell-off.
SpaceX is preparing to release its second-quarter financial results on August 4, 2026, marking its inaugural earnings report as a public company. The event introduces a significant share supply risk for investors. MarketWatch detailed that up to 37% of insider shares subject to a 180-day lockup schedule could be unlocked for trading next month, with an initial tranche of up to 911.5 million shares eligible for release on August 6. Shares held by Elon Musk and select insiders remain bound by a longer lockup agreement.
Looking ahead, brokerages anticipate that Flight 14 could launch as early as late August or early September, potentially attempting the first-ever tower catch of the Starship upper stage.
