SpaceX (SPCX) shares closed on July 16 at $131.11, down 3.1%, and for the first time fell below its $135 IPO issue price. That same day, Starship’s 13th flight from Starbase in the southern part of Texas stopped its countdown when the Super Heavy booster engines had just begun ignition. SpaceX spokesperson Dan Huot said engineers will inspect the issue before scheduling a new attempt.
Record of the Cancellation of Starship Flight 13
Around 6:45 p.m. Eastern Time on July 16, 2026, the launch countdown clock at Starbase in the southern part of Texas stopped, just as the Super Heavy booster engines had begun ignition. During the company’s livestream, SpaceX spokesperson Dan Huot told viewers, “Hopefully we’ll be back soon for Flight 13, and try again to get Starship off the launch pad.”
Flight 13 was the second test flight of Starship’s third generation (Starship Version 3). The rocket reached a height of 124 meters and can place up to 100 tons of payload into orbit. The mission goal is to put 20 Starlink V3 (Starlink V3) satellites into operational orbit.
The previous V3 mission (Flight 12, May 2026) successfully reached orbit and deployed upgraded Starlink satellites, but it failed to complete all booster recovery targets.
SPCX Stock Market Reaction: Close at $131.11, Falls Below the IPO Issue Price
On July 16, 2026, SPCX closed at $131.11, down 3.1%, marking the first close below its $135 IPO issue price. SPCX listed on June 12, opened at $150, hit a high point in mid-June, and then continued to fall; by July 16, its close was down about 42% from its peak. Its market cap is about $1.73 trillion, still one of the highest market-cap publicly traded companies globally.
JPMorgan analyst Seth Seifman wrote in a research report before the launch attempt: “Flight 13 has a lot worth analyzing, but as time goes on, we expect there will be both progress and setbacks,” and said investors should focus on Starship’s launch cadence rather than the outcome of a single mission. The analyst also noted that an upcoming expiration of the insider lockup period is one of the factors behind the ongoing sell pressure recently.
Broad Sell-Off Wave: Same-Day Moves for Major Assets on July 16
On July 16, 2026, the same-day moves for the following assets were:
SPCX (SpaceX): -3.1%, closed at $131.11, fell below the $135 IPO issue price
ASTS (AST SpaceMobile): -17%
GOOG (Alphabet): -4.4%
S&P 500 Index futures: about -0.25%
Nasdaq Index futures: about -0.45%
VIX (Cboe Volatility Index): +6.8%, up to 16.73
Bitcoin (BTC): about -1.3%
Based on a report by The Associated Press, one of the key drivers of this broad sell-off is that AI-related stocks were among the biggest decliners worldwide.
Elon Musk Statement: Replace Two Raptor Engines; Early Next Week Is the Most Likely New Launch Window
On July 16, 2026, Elon Musk posted on the X platform: “To make sure the flight goes smoothly, we will dismantle and replace two Raptor engines. The most likely launch time is early next week.” Before the new launch attempt, the Starlink V3 payload will remain on the ground, and engineers will complete the engine swap and final checks.
In SpaceX’s official livestream, spokesperson Dan Huot said engineers will first check the issue, then schedule the subsequent launch window; the specific new launch date will be subject to an official SpaceX announcement.
FAQ
Why was SpaceX Starship Flight 13 halted at the last moment?
According to SpaceX’s public explanation, the countdown timer stopped at around 6:45 p.m. Eastern Time on July 16, when the Super Heavy booster engines had just begun ignition. SpaceX spokesperson Dan Huot said engineers will inspect the issue. Elon Musk announced on X that two Raptor engines need to be replaced, with a new attempt expected as early as next week.
How does SPCX’s current market cap compare with its IPO valuation?
At the close on July 16, 2026, SPCX’s market cap was about $1.73 trillion, roughly 3% lower than the $1.78 trillion IPO valuation. The stock price of $131.11 is below the $135 IPO issue price, down about 42% from its historical high in mid-June.
What is JPMorgan analyst’s assessment framework for Starship testing?
In a research report before the July 16 launch attempt, JPMorgan analyst Seth Seifman said investors should focus on how fast SpaceX retrofits and re-launches Starship, rather than the outcome of a single mission; he also said, “As time goes on, we expect there will be both progress and setbacks,” and that the launch cadence is the core evaluation metric for the framework.
