TLDR
- SpaceX launched its 13th Starship test flight on Friday from Starbase, Texas — the first since its IPO last month.
- The Super Heavy booster made a “hard splashdown” in the Gulf after only some engines successfully relit.
- The upper Starship spacecraft made a “soft splashdown” in the Indian Ocean, landing intact.
- SpaceX deployed 20 new Starlink V3 satellites during the flight — a first for the larger, more powerful design.
- SPCX stock has dropped in four of the past five weeks, falling 43% from its June 16 peak, and is still trading below its IPO price.
SpaceX (SPCX) stock is trading below its IPO price after completing its 13th Starship test flight Friday evening from Starbase, Texas. The stock has slipped 43% from its peak close on June 16 and has fallen in four of the past five weeks.
Space Exploration Technologies Corp., SPCX
The flight was the first since SpaceX’s record IPO last month. It was also the second test for the V3 version of Starship, which is the latest build of the world’s largest rocket.
The Super Heavy booster separated from Starship about two minutes into the flight. It attempted to relight its Raptor engines for the landing burn, but only a subset ignited, resulting in a “hard splashdown” in the Gulf of Mexico.
Splashdown confirmed! Congratulations to the entire SpaceX team on the 13th flight test of Starship! pic.twitter.com/g27YJCQgiN
— SpaceX (@SpaceX) July 24, 2026
The upper stage fared better. The Starship spacecraft made a “soft splashdown” in the Indian Ocean, landing intact and giving SpaceX its first clear views of an undamaged heatshield after splashdown.
Crew on the livestream dubbed it “lucky number 13.”
About 18 minutes into the flight, SpaceX successfully deployed 20 Starlink V3 satellites into orbit. It was the first time these new satellites have flown.
New Satellites, New Ambitions
The V3 satellites are built larger and more powerful than earlier versions. Their solar arrays generate twice the power of previous generations. They are made at SpaceX’s facility in Redmond, Washington.
SpaceX is also developing Starmind satellites, which the company plans to use as orbital data centers.
The Starship rocket is central to SpaceX’s plans to expand the Starlink network. The company also needs it ready for a NASA test flight next year that could set the stage for a crewed moon landing.
Engine Issues Raise Questions
Satellite industry analyst Tim Farrar of TMF Associates said SpaceX has made progress but “remains a long way from achieving rapid reusability of the entire ship.”
He pointed to the engine relighting failures as a concern. “Any similar failure during an attempted landing at the company’s launch site could cause severe damage to the launchpad,” he said.
This was not the first hiccup in recent weeks. SpaceX scrubbed a launch on July 16 after the booster triggered a hold, shutting down engines as they were starting to ignite. A second attempt on Thursday was called off due to weather.
During the first V3 flight in May, a series of engine outages caused the rocket to underperform.
Last week’s aborted launch attempt triggered a selloff. SPCX is still trading below its IPO price.
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