SpaceX (SPCX) shares fell more than 5% on Friday. The decline followed an aborted 13th Starship test flight on Thursday. An automatic abort occurred seconds before liftoff after four Raptor engines failed to ignite.
The stock closed at $123.99 on Friday. This price sits below the company's $135 IPO price. The market reaction erased approximately $100 billion in equity value. Shares have now declined roughly 45% from their post-IPO high.
Chief Executive Elon Musk confirmed the engine ignition failure. The company is currently replacing two of the booster's Raptor engines. The next launch attempt is tentatively scheduled for Monday, July 20.