SpaceX Stock Falls 4.85% to $124.76, Down Six Trading Days Since July 10

According to Yonhapinfomax, SpaceX stock declined 4.85% to $124.76 as of 10:09 a.m. ET on July 17, marking its sixth consecutive trading day decline since July 10. The stock has now fallen below its IPO price of $135, compared to an opening price of $150 at listing.

The sharp decline comes as SpaceX canceled a planned Starship V3 test flight at its Boca Chica facility in Texas on July 16 after an automatic shutdown system activated moments before launch. CEO Elon Musk stated the company will replace two Raptor engines and targets an early next week launch window. Investor concerns over Chinese AI advancements, including Kimi K3 model outperforming OpenAI's ChatGPT and xAI's Grok in coding benchmarks, have also weighed on the stock.