SpaceX Shares Remain Under Pressure Ahead of First Starship Test Flight Since IPO

SpaceX remained under close investor watch as the company prepared for its first Starship test flight since going public.

SpaceX recently delayed the launch of its Starship Version 3 rocket. (Photo: The Center for Land Use Interpretation)

The highly anticipated launch comes as the company's shares continue to trade below their initial public offering (IPO) price, Pras Subramanian reported for Yahoo Finance.

SpaceX shares fell to an all-time low of US$132.75 recently, dropping below the IPO price of US$135 before recovering to close at US$135.27.

The stock is down more than 30% from its all-time high and about 10% for the year. Shares traded slightly lower in midday trading on Thursday.

Investors are closely watching the company's 13th Starship test flight, which is expected to be the largest rocket launch attempted by SpaceX and the first Starship mission since the company's June 12 IPO.

As of Thursday morning, Starship had been stacked atop its Super Heavy Booster 20 at Starbase's Pad 2 in South Texas and was ready for launch later in the day.

The mission will also mark the second flight of Starship Version 3, a larger and more powerful design introduced less than two months ago.