SpaceX stock fell below its $135 initial public offering price for the first time, closing at $131.11 on July 17, 2026, after the company aborted a Starship test flight the previous day. An engine ignition failure forced SpaceX to scrub the launch during its 90-minute window in Texas on Thursday evening, triggering a 5.43% decline that extended a five-day losing streak for the space and AI company.

Founder Elon Musk confirmed the abort in a post on X, saying “Some of the engines didn’t start, triggering an automatic launch abort.” Musk later announced that two Raptor engines would be removed and replaced, with the next launch attempt planned for early the following week. The test flight was meant to be SpaceX’s first…