SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears

SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears connects the stock turnaround to a new Starship launch attempt after a prior technical setback. The article says SpaceX shares slipped below its heavily touted $135 IPO price and nearly halved from its all-time high, which had briefly moved above $220 on June 15 during a gamma squeeze. After last Thursday’s scrub of Starship’s 13th test flight, shares fell to $119 on Monday, then rebounded on Tuesday as investors looked to Thursday’s next attempt. It reports the most recent last-second abort followed after four of the Super Heavy booster’s 33 Raptor engines failed to ignite, triggering an automatic shutdown, with Elon Musk stating that two Raptors would be removed and replaced. The piece adds that Thursday’s Flight 13 would be the first Starship launch with SpaceX trading as a public company. It also notes credit-market caution after SpaceX issued $25 billion in bonds across five maturities, including $3.5 billion 6.65% notes due in 2056. It says Wall Street is broadly bullish except for Morningstar’s Nicolas Owens, who has the only Sell rating.