SpaceX Is Learning a Nasty Lesson About Going Public When Your Main Product Is Experimental

SpaceX called off a Starship launch attempt after engine failures, adding to a string of setbacks.

Its stock has fallen sharply since the IPO, slipping below the offering price and erasing much of its early gains.

Investors are increasingly questioning whether the experimental Starship program can justify SpaceX’s huge valuation and long-term plan.

The slump could weigh on confidence in SpaceX’s broader business prospects, including Starlink and major NASA and Pentagon contracts.