The last-minute abort of SpaceX's Starship rocket test launch, combined with the post-IPO volatility already affecting its stock, has placed significant pressure on the aerospace giant's shares.

On Thursday, SpaceX had originally planned to open a 90-minute launch window at 5:45 p.m. Eastern Time in Texas, but an engine ignition failure forced the mission to be aborted. Founder Elon Musk subsequently posted on X, stating, "Some engines failed to start, triggering an automatic abort sequence. Propellant is currently being unloaded, and we hope to attempt another launch within a few days." He later added that two Raptor engines would be removed and replaced, with plans to relaunch early next week.

Affected by this news, SpaceX's stock fell more than 3% in after-hours trading on Thursday and dropped another approximately 3.5% in pre-market trading on Friday, resulting in a cumulative decline of over 6% across the two days. This comes just weeks after the company completed a record-breaking $85.7 billion IPO in June this year, listing at a price of $135 per share.

Market Highly Sensitive to Test Progress Following Largest IPO in History

SpaceX's IPO, completed in June this year, set a historical record as the largest initial public offering ever. Since listing, its stock price has experienced significant volatility, with mixed gains and losses.

Consequently, investors are paying far closer attention to each of the company's rocket tests than in the past. This test flight of Starship V3 is the first Starship trial since SpaceX's IPO, and the market views it as a crucial window to assess the company's technical progress and execution capabilities. News of the launch abort has directly intensified market caution.

Not the First Test Failure; FAA Investigation Just Concluded

This abort was not the first setback SpaceX has faced recently. In May of this year, a Starship test also ended in failure—the Starship upper stage veered off toward the Indian Ocean, and the Super Heavy booster failed to achieve a controlled landing in the Gulf of Mexico because five of its 33 Raptor engines failed to reignite.

That incident promptly triggered an investigation by the U.S. Federal Aviation Administration (FAA). On Monday, the FAA announced the conclusion of the investigation and formally approved SpaceX to proceed with its test plans. This Starship V3 launch attempt was carried out immediately after receiving regulatory clearance.

Musk: Another Attempt Within Days, Technical Issues Manageable

Musk offered a relatively optimistic assessment of the abort on social media, attributing it to identifiable and fixable hardware issues—two Raptor engines will be removed and replaced, with another launch attempt scheduled for early next week.

This statement has provided some anchor for market expectations to a certain extent. However, given that the stock has already been experiencing high-level volatility since the IPO, investor sentiment remains cautious in the short term. Whether the subsequent launch can be completed successfully will become a key point for the market to re-evaluate SpaceX's technological roadmap and valuation logic.