Good News For SpaceX Stock Fans

This article first appeared on GuruFocus.

SpaceX (NASDAQ:SPCX) launched its first Starfall demonstration flight on Tuesday, sending a reusable capsule into orbit from Cape Canaveral, Florida, before planning a Pacific Ocean splashdown, in an early test of a new vehicle the company says could support space manufacturing and cargo return.

The Falcon 9 mission lifted off from Space Launch Complex-40 at 6:52 a.m. EDT and marked the first of at least two Starfall demos. SpaceX said the capsule is designed to carry payloads of up to 2,200 pounds, including research materials and pharmaceutical components, and return them to Earth after a stay in low Earth orbit.

SpaceX described Starfall as a way to give companies access to microgravity and vacuum conditions for manufacturing. The company also said the vehicle could support rapid point-to-point cargo delivery, although the program remains at an early experimental stage.