SpaceX shares slid under $140 even after federal regulators cleared the company to move forward with its next Starship test.
Shares were trading around $139 in the latest session, down roughly 4% on the day and off more than 12% over the past five trading days, data from Yahoo Finance show. That slide has pushed the stock back toward its $135 IPO price and well below the roughly $150 level it opened at after last month’s public debut.
Regulator clears Starship probe, paves way for Flight 13
The U.S. Federal Aviation Administration has closed its investigation into the Starship Flight 12 mishap, finding no reports of public injuries or damage to public property. The FAA said it reviewed and accepted SpaceX’s investigation findings and corrective actions, and the company may proceed with preparations for Starship Flight 13 so long as remaining safety and licensing requirements are met. Flight 13 could occur as soon as this week.
Positive operational news, muted market reaction
Despite the regulatory green light and other favorable developments, the stock has not recovered. Last week SpaceX was added to the Nasdaq-100 index—a move that typically attracts demand from index funds and institutional investors—but that inclusion hasn’t reversed the recent decline.
Wall Street keeps the faith, but the gap to targets is wide
Several major firms have stayed bullish on the name. Morgan Stanley, Goldman Sachs and Citi have maintained buy ratings, and Raymond James recently initiated coverage with a Strong Buy and an $800 price target—implying more than 400% upside from current levels. Yet the shares remain well below their record highs above $200, leaving a large gap between current trading and some analysts’ long-term projections.
What to watch
For now, market participants seem more focused on selling pressure than on SpaceX’s operational progress. With FAA clearance in hand and Flight 13 looming, launch execution will be the next key catalyst investors will watch closely—both for the aerospace program and for the stock’s near-term trajectory.
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