SpaceX Stock Price Loses Another 5% But Expert Remains Bullish, Here’s Why

The SpaceX (SPCX) stock price has lost another 5% today, continuing its downward move over the past few days. Notably, the stock has hit a post-IPO low on July 17, extending its losing streak, which has spooked traders over its potential future movements.

The latest selling pressure appears to have intensified due to the last-minute launch abort of the Starship test flight. However, despite that, a renowned market influencer and commentator has remained bullish on the SpaceX stock price in the near future.

SpaceX Stock Price Slips Amid Starship Launch Delay

The SpaceX stock price was down nearly 5% today and traded at $124.68, down from its IPO price of $135, as investors reacted to the delay in the company’s Starship test flight. Over the past 30 days, the SPCX stock has endured losses of around 35%.

Meanwhile, the decline comes after SpaceX completed its blockbuster IPO earlier this year. Investor enthusiasm initially pushed the SPCX stock price higher, but the momentum has faded over recent weeks.

Much of the earlier weakness reflected profit-taking after the IPO excitement cooled. However, the latest round of selling followed the company’s decision to cancel the planned Starship launch shortly before liftoff.

The mission was halted after at least two Raptor engines on the Super Heavy booster failed to ignite during pre-launch procedures. CEO Elon Musk later confirmed that the affected engines would need replacement, forcing the company to delay Starship’s 13th test flight until early next week.

Market Experts Offer Mixed Outlook on SPCX Stock

The SpaceX stock price weakness also triggered contrasting reactions from well-known market voices. Author and cognitive scientist Gary Marcus suggested on X that the latest development could expose growing doubts about investor confidence in Elon Musk’s execution.

He later clarified that instead of a sharp collapse, a new record low for the SPCX stock appeared to be the more realistic outcome, referencing the day’s decline. On the other hand, investor and Tesla supporter Sawyer Merritt dismissed the selloff as an overreaction.

In a post on X, he argued that investors selling shares because of a launch postponement lasting only a few days may be focusing too much on short-term events rather than the company’s broader outlook. He also suggested that investors who are selling due to this reason “shouldn’t have been in the stock in the first place.”

However, Merritt also highlighted another update that attracted the market’s attention. According to the latest company announcement, SpaceX is now targeting Monday, July 20, at 6:45 p.m. ET for Starship’s 13th test flight.

The revised timeline has renewed hopes that the delay could prove temporary if the company completes the launch successfully. Investors will likely monitor the next attempt closely, as a successful mission could help offset the recent losses in SpaceX (SPCX) stock price.

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