Following last month's record-setting IPO, SpaceX shares have plunged 50% from their peak and now trade about 15% below the $135 offering price. The post-IPO euphoria has faded, stripping Elon Musk of his trillionaire status - at least for now.
On Friday evening, SpaceX launched Starship on its 13th test flight and successfully deployed 20 next-generation Starlink V3 satellites, making solid progress toward full reusability. The upper-stage spacecraft completed all its primary objectives, despite another landing-burn failure involving the Super Heavy booster.
Deployment of 20 @Starlink V3 satellites complete. Today's test will provide critical data as we prepare to expand our Starlink constellation pic.twitter.com/jWKLwXGlsk
— SpaceX (@SpaceX) July 24, 2026
Deutsche Bank analyst Edison Yu offered clients a post-mortem on Flight 13, noting that the latest Starship test.
Here is Yu's take:
Starship Test Flight 13 illustrated solid progress for the program, in our view. For context, this was the second time the upgraded V3 iteration of Starship was flown. Interestingly, the rocket's second stage (Ship) executed all primary objectives whereas the first-stage booster (Super Heavy) performed well for most of the mission until an incomplete engine relight led to a harder splashdown than planned which was also an issue observed on Flight
