SpaceX aborts Starship test flight, sending stock lower - CNBC

SpaceX scrubbed a planned test flight of its Starship mega rocket from its Starbase complex in South Texas on Thursday, July 16, 2026, after several engines failed to start and triggered an automatic launch abort.
CEO Elon Musk said on X that two Raptor engines will be removed and replaced to ensure a good flight, with the most probable launch timing being early next week, or "hopefully in a few days."
The launch window had opened at 6:45 p.m. ET, but SpaceX stood down within minutes after a hold on the booster shut down the engines as they began to ignite.
The mission would have been the first test flight of the upgraded, roughly 400-foot-tall Starship V3 since SpaceX's initial public offering last month, and the second flight of the V3 overall.
An earlier V3 launch in May ended with several bottom-stage engines failing to reignite, sending the rocket into the Gulf of Mexico; the FAA cited heat effects on propulsion components and erroneous engine alarm settings as the probable causes and cleared Starship to fly again on Monday.
SpaceX shares fell more than 3% in extended trading, extending a five-day losing streak and sinking further below the company's $135 IPO price, which the stock dropped beneath for the first time this week.