SpaceX Shares Hit Record Low After Starship Launch Scrub

The selloff gained momentum during pre-flight procedures when two Raptor engines on the Super Heavy booster failed to ignite. CEO Elon Musk confirmed the hardware issues, stating that the engines would be replaced before the next attempt, now rescheduled for July 20. This latest setback compounds a month-long slide that has seen the stock surrender gains from its $225.64 peak.

Market observers remain divided over the volatility. Cognitive scientist Gary Marcus warned that the failure exacerbates concerns regarding execution, suggesting further downward pressure on the share price. Conversely, investor Sawyer Merritt dismissed the market reaction as an overcorrection, arguing that a brief technical delay provides no fundamental reason for investors to exit their positions. As the company prepares for its Monday launch window, Binance has introduced a perpetual futures product for SpaceX, offering traders new ways to bet on the stock’s performance amid the current instability.