News & Updates
The latest news and updates from companies in the WLTH portfolio.
Amazon Leo beats SpaceX Starlink to South Africa
Amazon Leo has partnered with Herotel, South Africa's largest ISP, to help connect rural population. Starlink is not available in the country. Amazon has announced that its satellite internet constellation, Leo, will provide connectivity for South Africa's largest internet service provider (ISP), Herotel. The company said that Leo will help to connect homes and small businesses that are too uneconomical to get connected with fiber and fixed wireless. Herotel will use Amazon Leo's technology as part of a new service it is offering called Evry. Evry will launch commercially in 2027 to get more residential customers connected to the net. Interestingly, this is the first agreement of this kind for Amazon Leo in Africa. While internet connectivity is a given for most people in places like the United States and Europe, the situation is different in South Africa. According to 2024 data from the International Telecommunication Union (ITU), only 78.4% of individuals are using the internet in South Africa. Amazon notes this "persistent challenge", saying that millions of people who live on farms, in small towns, and in rural communities, still lack reliable internet access due to distance, terrain, and low population density, which make traditional infrastructure impractical and expensive. With Amazon Leo, customers can connect to the net via compact antennas and there is no need for fiber or fixed wireless infrastructure at their premises. Amazon Leo satellites orbit the Earth at 590 kilometers above the planet and deliver internet speeds capable of video calls, streaming, remote work, and online learning. The fact that Amazon Leo is powering this service is good news. Due to the cost of getting satellite constellations into orbit, there are relatively few organizations offering this type of service. The leader of the pack is SpaceX with its Starlink constellation, but others offer similar services, including Eutelsat OneWeb. Notably, Starlink is not available to customers in South Africa yet. By introducing more competition, theoretically we could see prices come down for these services. In some countries, Starlink can be more than twice as expensive as broadband, so lower prices would be nice.
With a Nearly 7% Dividend Yield, Is Verizon Stock a Buy on SpaceX Fears?
Mobile operator Verizon (NYSE: VZ) has seen its shares sell off in the wake of the SpaceX (NASDAQ: SPCX) IPO, lifting Verizon's dividend yield to 6.7%. The sell-off looks overdone in my view, making the stock an attractive buy at current levels. Investors worry that SpaceX will use its leadership in satellite internet to challenge traditional mobile carriers like Verizon. However, there are multiple hurdles to this happening. Two of the biggest are technology constraints and regulatory issues. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Image source: The Motley Fool. A look at the potential threat Cellular networks, like Verizon's, use dense, localized cell towers and small cell antennas that reuse spectrum thousands of times within a single city. Low-earth-orbit (LEO) satellites like those SpaceX deploys, on the other hand, project massive beams over large areas. If millions of people in a dense city or suburb tried to stream video via direct-to-cell satellite at the same time, capacity would collapse. Meanwhile, modern green building initiatives, such as reinforced concrete, steel, and low-e glass used in office buildings, block satellite signals. Even SpaceX's VP for satellite engineering, Michael Nicolls, stated this at the company's Mobile World Conference: "Satellite is complementary to terrestrial networks; it cannot provide the data density that terrestrial networks have. But it can augment terrestrial networks in areas where they cannot reach. Or when terrestrial networks need additional capacity." Meanwhile, after discussing the potential for SpaceX to offer a mobile network with a former FCC attorney, BNP Paribas analyst Sam McHugh concluded there were few ways for SpaceX to enter the mobile space unless those companies struck a deal with SpaceX. He noted that current FCC rules prevent Elon Musk's company from requiring carriers to enter wholesale network agreements or to provide roaming access. While there is a risk SpaceX gets into space by acquiring a carrier like T-Mobile, the three big carriers did form a joint venture to help address coverage gaps in the U.S. by pooling spectrum, looking to fend off any risk from satellite companies. Bundling opportunity ahead Putting aside SpaceX's concerns, Verizon has a big opportunity ahead as it starts to cross-sell and bundle wireless and broadband services to the customers it gained when it acquired Frontier Communications earlier this year. This should be a nice subscriber and revenue growth driver, as only about 20% of its customers have both wireless and broadband subscriptions. Meanwhile, Verizon's dividend is safe and well covered, with the company having low leverage and a dividend (around $12 billion projected this year) that is easily covered by its free cash flow ($21.5 billion forecast). With a nearly 7% yield and a forward price-to-earnings (P/E) ratio of 8.6 based on 2026 earnings estimates, I think this dividend stock looks like a buy on its recent price dip. Should you buy stock in Verizon Communications right now? Before you buy stock in Verizon Communications, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Verizon Communications wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $398,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,249,202!* Now, it's worth noting Stock Advisor's total average return is 918% -- a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks " *Stock Advisor returns as of July 15, 2026. Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool recommends T-Mobile US and Verizon Communications. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
With a Nearly 7% Dividend Yield, Is Verizon Stock a Buy on SpaceX Fears?
Mobile operator Verizon (NYSE: VZ) has seen its shares sell off in the wake of the SpaceX (NASDAQ: SPCX) IPO, lifting Verizon's dividend yield to 6.7%. The sell-off looks overdone in my view, making the stock an attractive buy at current levels. Investors worry that SpaceX will use its leadership in satellite internet to challenge traditional mobile carriers like Verizon. However, there are multiple hurdles to this happening. Two of the biggest are technology constraints and regulatory issues. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " A look at the potential threat Cellular networks, like Verizon's, use dense, localized cell towers and small cell antennas that reuse spectrum thousands of times within a single city. Low-earth-orbit (LEO) satellites like those SpaceX deploys, on the other hand, project massive beams over large areas. If millions of people in a dense city or suburb tried to stream video via direct-to-cell satellite at the same time, capacity would collapse. Meanwhile, modern green building initiatives, such as reinforced concrete, steel, and low-e glass used in office buildings, block satellite signals. Even SpaceX's VP for satellite engineering, Michael Nicolls, stated this at the company's Mobile World Conference: "Satellite is complementary to terrestrial networks; it cannot provide the data density that terrestrial networks have. But it can augment terrestrial networks in areas where they cannot reach. Or when terrestrial networks need additional capacity." Meanwhile, after discussing the potential for SpaceX to offer a mobile network with a former FCC attorney, BNP Paribas analyst Sam McHugh concluded there were few ways for SpaceX to enter the mobile space unless those companies struck a deal with SpaceX. He noted that current FCC rules prevent Elon Musk's company from requiring carriers to enter wholesale network agreements or to provide roaming access. While there is a risk SpaceX gets into space by acquiring a carrier like T-Mobile, the three big carriers did form a joint venture to help address coverage gaps in the U.S. by pooling spectrum, looking to fend off any risk from satellite companies. Bundling opportunity ahead Putting aside SpaceX's concerns, Verizon has a big opportunity ahead as it starts to cross-sell and bundle wireless and broadband services to the customers it gained when it acquired Frontier Communications earlier this year. This should be a nice subscriber and revenue growth driver, as only about 20% of its customers have both wireless and broadband subscriptions.
SpaceX could launch Starship this week. Here's what's different
SpaceX could launch its next Starship into space as soon as Thursday, according to the company's website and social media posts by CEO Elon Musk. If the launch of the 13th test flight of Starship/Super Heavy proceeds as planned, it would be the quickest turnaround time between launches for the spacefaring company that recently went public and made Musk the world's first trillionaire. It's also expected to mark another first for SpaceX -- the first time that Starship will carry functional Starlink satellites into space. "The upcoming flight will aim to complete similar objectives targeted on the previous flight test... while also carrying next-generation Starlink V3 satellites for the first time," SpaceX said on its website on a page dedicated to upcoming launches. SpaceX last launched a Starship from its Starbase headquarters on May 22. Flight 12 was the first flight of 2026, and the first time that the company deployed its third-generation Starship configuration. Before that, SpaceX hadn't launched a ship since October 13, 2025. But not everything went according to plan during May's test flight. It's something SpaceX acknowledged on the Flight 13 launch page. An error "in engine startup" on Starship during what is known as "hot staging" caused the booster to rotate off kilter by 90 degrees when the two vehicles separated. Further, five of Super Heavy's 33 Raptor engines failed to relight when it attempted its boostback burn, which was meant to point the rocket back toward Earth for a splashdown in the Gulf of Mexico. One of Starship's Raptors also died after separation. SpaceX said it has since corrected both errors. And those corrections were crucial in meeting a federal regulatory prerequisite before Starship could take to the skies again. After the May 22 launch, the Federal Aviation Administration grounded Starship and ordered SpaceX to investigate the so-called "mishap." On Monday, July 13, the FAA officially closed the mishap investigation, paving the way for SpaceX to proceed with Flight 13. "The final mishap report cites two most probable root causes for the loss of the Super Heavy booster as heat effects on propulsion system components during the ascent and erroneous engine alarm system settings," the FAA said in a statement Monday. For the first time, Starship will carry live Starlink satellites into space and attempt to connect them with the existing Starlink network. Until now, SpaceX has relied on its unmanned Falcon 9 reusable rockets to launch the communications satellites into low Earth orbit. "Starship is planned to deploy 20 satellites which will extend solar arrays and antennas and will attempt to connect with the larger Starlink constellation via high-capacity lasers," SpaceX said. But the satellites will not remain in orbit. Instead, they're expected to burn up in the Earth's atmosphere. SpaceX is targeting a 90-minute launch window that's expected to begin at about 5:45 p.m. local time on Thursday, July 16. However, the company has selected July 17 and July 18 as potential backup dates, according to several notices to airmen, or NOTAMs, the FAA published announcing airspace restrictions on those dates.
SpaceX stock falls 33% from peak, slips below $135 IPO price: Here's why
SpaceX shares have fallen below their IPO (Initial Public Offering) price, raising concerns among investors who bought the stock during its market debut. The company's shares closed at $136.08 on Tuesday, just above the IPO price of $135, and later slipped below that level. The IPO price is important because it is the price at which investors first bought the company's shares when it went public. Falling below the IPO price is seen as a negative sign because it means early investors are now losing money on their investment. SpaceX had a very strong stock market debut. The company completed the world's biggest IPO and raised more than $85 billion after the overallotment option was exercised, according to The Motley Fool. According to Bloomberg, the stock has fallen by almost one-third from its highest price after the IPO. This has erased nearly $850 billion in the company's market value. SpaceX was already very popular with investors before its IPO because of its space technology business and the leadership of Elon Musk. The company has three main businesses: rocket launches, satellite internet services, and artificial intelligence. Elon Musk is one of the main reasons many people want to invest in SpaceX. Some investors do not agree with all of his plans, but many others believe in his vision for the future. SpaceX also continued to grow last year. According to The Motley Fool, the company made more than $18 billion in revenue, which was over 30% higher than the year before. Even though SpaceX made more money, the company still lost $4.9 billion. This is because it is spending a lot of money to build new space technology. The company may continue spending heavily because making advanced space technology is very expensive. Later this year, SpaceX plans to launch its fully reusable Starship rocket with payloads. This will be an important step for the company's future plans. Also read: Why are oil and gas prices so high? US is the world's top oil producer and consumer explained Ken Mahoney, CEO of Mahoney Asset Management, said he does not believe the stock has reached its lowest point yet. He said investors should watch whether enough buyers are willing to purchase the additional shares entering the market, according to Bloomberg. Even after the recent decline, Wall Street remains largely optimistic about SpaceX. More than 80% of analysts covering the company have Buy ratings on the stock. The average analyst price target is $236.25, which is over 70% higher than Tuesday's closing price. Several major investment banks, including Morgan Stanley, JPMorgan Chase and Goldman Sachs, started coverage with positive ratings. SpaceX was recently added to the Nasdaq-100 Index through the exchange's fast-entry rules, another major milestone for the company. Seven of those companies posted double-digit losses, while the average decline was around 12%. The report said that if SpaceX follows this historical trend, a $10,000 investment made near the IPO could be worth about $8,800 after one year. The history suggests investors should not rush into IPO stocks, as better buying opportunities may appear after the initial excitement fades. Bloomberg noted that many of the biggest U.S. IPOs this year have also struggled. Six of the ten largest offerings are now trading below the price at which they closed on their first trading day. Talley Leger, chief market strategist at Wealth Consulting Group, said he may consider buying SpaceX shares if the stock falls further, because he likes the company's long-term vision, according to Bloomberg. For now, investors are closely watching whether SpaceX can recover above its IPO price or continue its recent downward trend.
Needham raises SpaceX stock price target to $250 on AI, Starship By Investing.com
Investing.com - Needham raised its price target on SpaceX (NASDAQ:SPCX) to $250 from $200 while maintaining a Buy rating on Tuesday. The upgrade comes as shares trade at $136, near their 52-week low of $135.52, following an 8.2% decline over the past week. According to InvestingPro analysis, the stock appears undervalued at current levels, potentially offering investors an attractive entry point. The firm cited the company's release of Grok 4.5 on July 8, SpaceX's first AI model built for coding and agentic work. The model was trained on Cursor developer data and has received strong reviews on third-party AI benchmarks. Needham noted the model does not quite match leading models from Anthropic or OpenAI but puts SpaceXAI back on track after Elon Musk said in March the company had to completely rebuild its AI program. SpaceX announced its Starship flight 13 is scheduled to launch as early as July 16. The flight will deliver 20 full-size Starlink V3 test units to orbit and advance Ship and Booster re-usability. Needham said AI model performance and Starship success to orbit are key unlocks for the company's total addressable market. The firm raised its price target on increased confidence in execution. InvestingPro data reveals analysts predict the company will turn profitable this year, with 13 additional ProTips available to subscribers. In other recent news, flyExclusive, Inc. has completed its acquisition of aviation assets from Jet.AI. This transaction includes Jet.AI's Jet Card members, two HondaJets, one Citation CJ4, and three future Citation CJ3 delivery positions valued at approximately $4.1 million. Additionally, flyExclusive gained approximately $6.1 million in securities through indirect ownership of Space Exploration Technologies Corp. shares and about $5.3 million in cash. Meanwhile, SpaceX has received significant attention from analysts. Evercore ISI initiated coverage on SpaceX with an "outperform" rating and set a price target of $230. Stifel reiterated a "Buy" rating with a $190 price target, highlighting the upcoming Starship Flight 13 launch. Raymond James also reiterated a "Strong Buy" rating with an $800 price target, noting a significant reduction in the time between recent Starship flights. Deutsche Bank released an analysis suggesting that SpaceX could achieve cost parity between orbital and terrestrial data centers by the early 2030s. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
SpaceX Is Failing to Live Up to Wall Street's Hype
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A SpaceX vet raised $65M to pull wire harnesses out of the Cold War era
When Senra CEO Jordan Black was a SpaceX engineer, he took on the job of scaling up the company's wire harnesses to support production of Starship, the company's next-generation rocket. Wire harnesses are what they sound like: the internal electrical cabling that runs through a rocketship, car, plane, or tractor and becomes increasingly important the smarter those vehicles get. They're bespoke, put together by technicians who are, functionally, experienced craftspeople. "I traveled all over the world to go visit wire harness companies," Black told TechCrunch last month. "It really hasn't changed since the Cold War era of wooden tables [and] manual processes." Black and co-founder Benjamin Shanahan started Senra in 2023 to offer a more modern solution to vehicle manufacturers. Today, the startup is announcing a $65 million Series B round, co-led by Lowercarbon and Interlagos with participation from General Catalyst, Sequoia Capital, Andreessen Horowitz, and Founders Fund, among others. Serna isn't looking to take humans out of the handmaking process -- at least not while robots find manipulating wires a challenge and relevant training data remains scarce. Instead, it's turning to software tools and other forms of automation to modernize aspects of the traditional manual work. The company is benefiting from the surge of money into U.S. manufacturing, particularly the defense industrial base. While Black couldn't disclose customers, he said they include builders of "anything from submarines and maritime vehicles, to defense vehicle systems on land, to launch vehicles, to satellites." If it doesn't sound immediately important, consider a recent wire harness disaster. In 2023, Boeing discovered that its Starliner spacecraft's wiring was held together with flammable tape, forcing an expensive delay while the entire wiring system was redone. Black points to that experience as a reason to raise the standards for wire harnessing, using automated systems to track materials and engineering changes. "Having it all in the same software is probably the most important thing, because it's all the little inputs that happen that can make a catastrophic change down the road," he said. Senra uses Amp, a proprietary software platform, to standardize the inputs throughout the wiring process and produce a digital twin to guide its technicians, who are trained by the company in what Black says is the only federally certified wire harness training program. The company is also, as it scales, finding ways to automate more of the process. "It goes back to the Elon principle of, 'automation is last,'" Black told TechCrunch. "We're working on it now, but a lot of it the standardization and the foundation building that made SpaceX be able to scale something like rockets, which you could only build one a year if you were lucky, and now they do hundreds a year." Senra -- which, by the way, is "harness" spelled backwards, minus the "h" and "s," because Black says the company takes the "horsesh*t" out of harnesses -- produces 1,000 each month across two different factories and plans to increae production to 10,000 a month in 2027.
SpaceX's IPO Is Drifting Back Toward Its Offer Price
In an IPO, the offer price is the anchor many buyers judge the deal against, even though a new stock is still "finding" its level. SpaceX has cooled from its early pop: shares closed at $136.08 after dipping near $135, below the $150 opening trade, as investors debate how much future growth is already baked into big-name tech. Reuters notes that IPO banks often try to steady trading in the first few weeks through price-stabilization trades and the "gre.. enshoe" option, which lets underwriters buy shares to limit early selling pressure. That support is temporary, so if the stock is still leaning on $135 as the initial window fades, the market can start to focus more on the next wave of supply, like shares that can be sold later when lockups end. A clean break below the offer price can also change the story around the listing, making it harder for other mega-IPO hopefuls that bankers have been watching to justify aggressive valuations. Why should I care? For markets: SpaceX's $135 level becomes a bigger test once the early IPO "training wheels" come off. The offer price matters because it's where underwriters have the most incentive to keep the stock orderly right after the listing, when they can use stabilization and greenshoe-related buying to absorb some selling. But that backstop is time-bound. If SpaceX is still hovering around $135 as that period ends, the balance can tilt toward regular post-IPO forces, including later selling by early holders once lockups expire. And when a high-profile deal starts trading below its offer price in that phase, future issuers and banks often have to offer a larger discount to attract buyers, or delay a launch altogether, which is why the market is treating SpaceX as a read-through for the next big listings.
Reditus readies first spacecraft for SpaceX launch
"Hypersonics is one of the areas where there has been a tremendous amount of development in recent years," Crum said in an interview. Driving the news: Reditus recently completed construction of its first spacecraft, ENOS. It has been sent to Vandenberg Space Force Base, California, and is scheduled to launch aboard a SpaceX rideshare this fall. * ENOS, weighing some 440 pounds, is expected to stay in orbit for two months, after which it will de-orbit and splash down off Florida for recovery. * "As we re-enter, we have the relatively unique capability of hitting the atmosphere at north of Mach 25," Crum said. "There are very few things in human existence that go that quickly." Zoom in: Reditus is billing this first mission, focused on commercial microgravity research and manufacturing, as a demonstration, proving to the world it can bring things back from space. * "Things are going to get higher in altitude, faster -- and this is just part of the infrastructure that is needed to keep up," Crum said. State of play: Reditus raised a little more than $7 million last year. * The startup, based in Atlanta, employs around 12 people. What we're watching: The progress of Trump 2.0's Golden Dome, and to what degree the $185 billion promise is influencing defense-industrial business decisions.
Why SpaceX Is Quietly Becoming an Infrastructure Giant
For years, SpaceX (SPCX) has been viewed as the world's leading commercial launch company, celebrated for reusable rockets that dramatically lowered the cost of reaching orbit. That description is still accurate, but it is no longer the whole story. The more interesting case to make is that SpaceX may be evolving into something far larger than an aerospace manufacturer. Through Starlink, Starshield, launch services, and an expanding artificial intelligence strategy, the company is steadily assembling businesses that look less like traditional industrial operations and more like critical infrastructure. That distinction matters because history shows infrastructure companies tend to become some of the most valuable businesses in the world. Railroads powered industrialization. Electric utilities enabled modern cities. Cloud computing became the backbone of the digital economy. The question investors should now be asking is whether SpaceX is beginning a similar transition. Infrastructure Has Changed When most people think about infrastructure, highways, bridges, airports, and power grids come to mind. But that definition has expanded considerably over the past two decades. Digital infrastructure now includes cloud computing platforms, payment networks, fiber-optic cables, and wireless communications, all systems that millions of individuals, businesses, and governments rely on every day without necessarily thinking about who owns them. Space is increasingly becoming another layer of that stack. Reliable launch services, global satellite communications, secure military networks, and eventually orbital computing are turning into strategic assets for both governments and private enterprises. SpaceX now operates across each of those areas, which makes the company increasingly difficult to classify as simply a rocket manufacturer. Rockets Are the Foundation, Not the Business SpaceX's breakthrough was never just about building rockets. It was about changing the economics of getting to space. Elon Musk has long argued that reusability is the key to making space commercially viable, drawing comparisons to every other major mode of transportation. "Every mode of transport is reusable," he has said, making the case that rockets should follow the same economic logic rather than being discarded after a single flight. That philosophy worked. The company's reusable Falcon rockets slashed launch costs and increased launch frequency, fundamentally reshaping the commercial space industry in the process. But lower launch costs created something more valuable than an efficient rocket business. They provided the economic foundation for SpaceX to build entirely new businesses that depend on affordable access to orbit. The rockets, in other words, are increasingly the enabling layer rather than the primary source of long-term value. Starlink Has Changed the Investment Narrative Nothing illustrates this transformation better than Starlink. Originally conceived as a satellite broadband network, it has evolved into a global communications platform serving residential customers, airlines, maritime operators, remote industrial sites, governments, and emergency responders. Unlike launch services, which generate revenue project by project, satellite connectivity produces recurring subscription income, and that changes the financial profile of the business considerably. Recurring revenue is more predictable, more scalable, and typically commands higher valuation multiples than cyclical industrial businesses. The importance of Starlink extends beyond its financial contribution. Every satellite launched strengthens the network, improves coverage, and expands the ecosystem, reinforcing SpaceX's competitive position in ways that are genuinely difficult to replicate. The company is also pursuing a substantial expansion of the constellation, recently seeking regulatory approval for a next-generation network that would dramatically increase the scale of its orbital infrastructure. Governments Are Becoming Long-Term Customers Infrastructure becomes especially valuable when governments depend on it, and SpaceX has been steadily deepening its public-sector relationships. Through NASA missions, defense launches, and national security programs, the company has built a government customer base that tends to be long-term and far less cyclical than commercial markets. Starshield, its government-focused satellite business, reflects a broader trend in which public agencies increasingly purchase commercial infrastructure rather than building every capability internally. As geopolitical tensions rise and nations prioritize resilient communications and space capabilities, commercial providers like SpaceX are becoming harder to replace. That raises a question worth sitting with: at what point does a private aerospace company effectively become part of a nation's critical infrastructure? The Platform Keeps Expanding SpaceX's ambitions are also stretching beyond communications and launch services. The company has outlined plans to leverage technology developed for Starlink to support future orbital AI computing, arguing that many of the building blocks are already in place. "There is not some magic that is necessary," Musk said during a company presentation. "A lot of this is technology we've already made for the Starlink V3 satellites. We don't think this is a super hard problem compared to the things we already do." Whether orbital computing becomes commercially viable in the near term remains an open question. Several Wall Street analysts believe SpaceX's more immediate AI opportunity lies in terrestrial computing infrastructure, and the company has already been investing heavily in that direction alongside its launch and satellite businesses. Either way, the strategic direction is becoming clearer. SpaceX increasingly treats launch, connectivity, and AI as interconnected businesses rather than separate ventures, each one reinforcing the others. Why It Matters for Investors Public market investors still cannot easily buy shares of SpaceX directly, but the company's evolution has implications well beyond its own valuation. Lower launch costs reshape the economics of satellite operators. Expanding communications networks influence telecommunications markets. Defense spending increasingly intersects with commercial space. Future advances in orbital infrastructure could create ripple effects across aerospace, semiconductors, and AI. History suggests investors often only recognize infrastructure businesses after they have already become indispensable. Railroads, electric utilities, cloud platforms, and payment networks all followed similar paths, underestimated early and irreplaceable later. SpaceX may now be entering that same category. If it is, the company's greatest achievement may not turn out to be making rockets reusable. It may be quietly building one of the defining infrastructure platforms of the twenty-first century.
SpaceX's slide risks turning blockbuster IPO into confidence test - AOL
NEW YORK, July 15 (Reuters) - SpaceX's slip close to its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above $2 trillion. Since then, trading has been rocky. The stock has slipped below its $150 opening price, but remained above the $135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2% at $136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index <.NDX>. The stock dipped as low as $135.52. A break below the IPO price would be a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not immediately respond to a request for comment. PRICE DISCOVERY NOT PANIC? A drop below the IPO price would not be unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below $135 would reflect "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the $135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. CAUTION OR GREEN LIGHT FOR NEXT IPOS Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. RISKING RETAIL TRADERS' SKEPTICISM A drop below the IPO price could hit retail investors, who received about 20% of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena. (Reporting by Laura Matthews in New York; Additional reporting by Lewis Krauskopf in New York; editing by Megan Davies and Rod Nickel)
With a Nearly 7% Dividend Yield, Is Verizon Stock a Buy on SpaceX Fears?
Mobile operator Verizon (VZ 0.49%) has seen its shares sell off in the wake of the SpaceX (SPCX 2.24%) IPO, lifting Verizon's dividend yield to 6.7%. The sell-off looks overdone in my view, making the stock an attractive buy at current levels. Investors worry that SpaceX will use its leadership in satellite internet to challenge traditional mobile carriers like Verizon. However, there are multiple hurdles to this happening. Two of the biggest are technology constraints and regulatory issues. A look at the potential threat Cellular networks, like Verizon's, use dense, localized cell towers and small cell antennas that reuse spectrum thousands of times within a single city. Low-earth-orbit (LEO) satellites like those SpaceX deploys, on the other hand, project massive beams over large areas. If millions of people in a dense city or suburb tried to stream video via direct-to-cell satellite at the same time, capacity would collapse. Meanwhile, modern green building initiatives, such as reinforced concrete, steel, and low-e glass used in office buildings, block satellite signals. Even SpaceX's VP for satellite engineering, Michael Nicolls, stated this at the company's Mobile World Conference: "Satellite is complementary to terrestrial networks; it cannot provide the data density that terrestrial networks have. But it can augment terrestrial networks in areas where they cannot reach. Or when terrestrial networks need additional capacity." Meanwhile, after discussing the potential for SpaceX to offer a mobile network with a former FCC attorney, BNP Paribas analyst Sam McHugh concluded there were few ways for SpaceX to enter the mobile space unless those companies struck a deal with SpaceX. He noted that current FCC rules prevent Elon Musk's company from requiring carriers to enter wholesale network agreements or to provide roaming access. While there is a risk SpaceX gets into space by acquiring a carrier like T-Mobile, the three big carriers did form a joint venture to help address coverage gaps in the U.S. by pooling spectrum, looking to fend off any risk from satellite companies. Bundling opportunity ahead Putting aside SpaceX's concerns, Verizon has a big opportunity ahead as it starts to cross-sell and bundle wireless and broadband services to the customers it gained when it acquired Frontier Communications earlier this year. This should be a nice subscriber and revenue growth driver, as only about 20% of its customers have both wireless and broadband subscriptions. Meanwhile, Verizon's dividend is safe and well covered, with the company having low leverage and a dividend (around $12 billion projected this year) that is easily covered by its free cash flow ($21.5 billion forecast). With a nearly 7% yield and a forward price-to-earnings (P/E) ratio of 8.6 based on 2026 earnings estimates, I think this dividend stock looks like a buy on its recent price dip.
SpaceX's slide risks turning blockbuster IPO into confidence test
NEW YORK, July 15 (Reuters) - SpaceX's (SPCX.O), opens new tab slip close to its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above $2 trillion. Since then, trading has been rocky. The stock has slipped below its $150 opening price, but remained above the $135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2% at $136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index <.NDX, opens new tab>. The stock dipped as low as $135.52. A break below the IPO price would be a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not immediately respond to a request for comment. PRICE DISCOVERY NOT PANIC? A drop below the IPO price would not be unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below $135 would reflect "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the $135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. CAUTION OR GREEN LIGHT FOR NEXT IPOS Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. RISKING RETAIL TRADERS' SKEPTICISM A drop below the IPO price could hit retail investors, who received about 20% of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena. Reporting by Laura Matthews in New York; Additional reporting by Lewis Krauskopf in New York; editing by Megan Davies and Rod Nickel Our Standards: The Thomson Reuters Trust Principles., opens new tab
SpaceX's slide risks turning blockbuster IPO into confidence test
SpaceX's (SPCX-Q) slip close to its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above US$2-trillion. Since then, trading has been rocky. The stock has slipped below its US$150 opening price, but remained above the US$135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2 per cent at US$136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index. The stock dipped as low as US$135.52. A break below the IPO price would be a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not immediately respond to a request for comment. A drop below the IPO price would not be unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below US$135 would reflect "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the US$135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. A drop below the IPO price could hit retail investors, who received about 20 per cent of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena.
xAI's Colossus 2 Power Plant Operated Without Federal Air Permits
Fifty-Nine Turbines, No Federal Permits Elon Musk's xAI installed 59 natural gas turbines to power its Colossus 2 data center without securing federal clean air permits, according to correspondence between regulators and company representatives. That number is roughly double what the company has publicly acknowledged. At least 57 of the turbines run in Southaven, Mississippi, minutes across the state line from the Memphis facility they feed. Their potential emissions land far above the threshold that triggers a federal permit requirement, in communities already carrying high rates of lung disease. Key Takeaways * Manufacturer emissions profiles for just 30 of the 59 turbines indicate they could release nearly 2,500 short tons of nitrogen oxide, 4,000 short tons of carbon monoxide, and 22 short tons of formaldehyde annually at 80 percent capacity, against a Clean Air Act permitting threshold of 100 short tons. * Within five miles of the Mississippi site, roughly 46 percent of DeSoto County residents are Black against 33 percent countywide; across the Tennessee line, about 94 percent are Black against 52 percent in Shelby County. * The Justice Department filed on June 15 arguing that restricting the turbines could threaten national security because xAI's systems support US military operations, including operations involving Iran. The company said in January it was running 27 unpermitted turbines for Colossus 2 and has argued throughout that no permits are needed. The records tell a different count. Those records came from a public records request and include emails between Trinity Consultants, representing xAI and subsidiary MZX Tech, and the Mississippi Department of Environmental Quality. They show 57 off-grid turbines installed in Southaven and two more at an unidentified site. xAI did not respond to a request for comment. How Big This Is Ben King, an analyst at the think tank Rhodium Group, reviewed the emissions analysis. "This looks to be an unprecedented level of behind-the-meter gas being installed in one place," he said, using the term for off-grid gas plants serving a single customer. Nicholas Mailloux, a postdoctoral researcher at the University of Wisconsin-Madison who studies air quality, said the nitrogen oxide figure for roughly half the plant would put the facility "up there with some of the heaviest polluting natural gas power plants across the entire country." He said it would rank on par with the top 25 US gas plants for nitrogen oxide, citing EPA data on actual emissions. Nitrogen oxides feed smog and inflame airways. Carbon monoxide starves the body of oxygen. Formaldehyde causes cancer. The Mobile Turbine Argument Mississippi regulators issued a permit in March for 41 permanent gas-fired turbines at the site, three weeks after the state's only public hearing on the project. The 59 now running are separate and unpermitted. xAI and state regulators argue in court filings that the turbines are exempt because they are mobile and meant to operate on site for less than a year. "MDEQ has determined that portable/temporary turbines do not require an air permit," the agency told reporters. The Environmental Protection Agency said in January 2026 that temporary turbines exceeding emissions thresholds must be permitted. The agency now says it is weighing "regulatory flexibilities" for portable units while protecting public health. A Clean Air Act permit would have exposed the project to years of review and public comment. The Lawsuit The NAACP and the Southern Environmental Law Center, represented by Earthjustice, sued xAI in April to stop the turbines, arguing the emissions fall under the Clean Air Act and are polluting homes, schools, and churches. "The scale of it is astonishing," said Patrick Anderson, an attorney with the Southern Environmental Law Center. "This is an absolutely huge Clean Air Act violation that threatens public health." "This sets up scenarios where the government can create sacrifice zones and tell communities they have to breathe illegal air pollution," said Mary Rock, a senior attorney for Earthjustice. The complaint filed on behalf of the national NAACP and its Mississippi State Conference asks the court to halt the unpermitted units, order best available control technology, and assess penalties for every day of violation. An earlier round of legal pressure worked: after a notice of intent to sue over the original Colossus site, xAI pulled its unpermitted turbines there and permitted the remainder. Advocates noted at the time that the Southaven build repeated the same sequence a few miles south, with no public input and no notice to neighbors. xAI, now owned by SpaceX, has not detailed how a planned third Memphis-area data center would be powered. The People Living With It In Colonial Hills, a Southaven neighborhood, the turbines run around the clock and fire off bursts residents compare to jet engines. Ervin Laws, a resident in his 20s, said the noise wakes him at night. "I can't do anything about it, because he's got more money than me," he said, referring to Musk. The health baseline was already poor. In 27 of 28 census tracts within five miles of the site, spanning both states, estimated asthma rates exceeded countywide figures. In 24 tracts, chronic obstructive pulmonary disease rates did too. Five miles is a standard radius in environmental health research for capturing populations exposed to a stationary source. Shelby County and parts of DeSoto County have previously failed federal ozone standards and remain under EPA-approved plans to keep them from slipping back. Nitrogen oxide is a key ingredient in ozone formation. "Given this community struggles with high asthma rates, additional NOx exposure at such high rates could exacerbate public health issues in a community that is already seeing more than its fair share of exposure to toxic air pollution," said Victoria Nelson, an independent environmental engineer formerly at EPA. "This is a massive amount of turbines and an unfathomable amount of air pollution," Southaven resident Shannon Samsa said. "It's not a hypothetical," she added, "that air pollution is bad for you." Jayajit Chakraborty, a professor at the University of California, Santa Barbara, said the demographic analysis matches research showing communities of color face higher exposure to fossil fuel pollution. A 2022 study by UCLA and Columbia researchers published in Nature Energy found that previously redlined neighborhoods now face disproportionately high exposure to pollutants from fossil fuel facilities. "Air pollution from these and other sources contributes to systemic racial disparities in chronic disease and ultimately shorter lives," Lara Cushing, a UCLA public health professor who co-authored the study, said. Sarah Gladney, 72, has watched xAI expand from her home in Boxtown, a historically Black Memphis neighborhood near the original Colossus site built in 2024. "Once they got their foot in the door in Memphis, I feel like it's going to be a continuous movement of xAI into these other communities," she said. "It's all about the money, and it's not about the health or wellness of the people that live in or near these communities." Why This Case Matters Beyond Memphis The turbines are one node in a national buildout. Scores of off-grid power plants for data centers are proposed or under construction across the country, and local authorities routinely approve them in weeks rather than the years of study grid-connected plants face. xAI's cluster is already among the largest of them. Noise has been its own front. Residents living near the Southaven plant spent months documenting the sound before the company built a barrier, and neighbors nicknamed the $7 million wall the "Temu sound wall" after it failed to help. That episode also surfaced how thin the paper trail is: records requests to the city about noise ordinance exemptions came back empty. The same pattern of fast approvals and thin oversight is why communities across the country have started blocking data center projects outright. The commercial stakes explain the hurry. Colossus and Colossus 2 together supply roughly one gigawatt of compute, and analysts now argue that SpaceX's near-term AI value rests on those ground facilities rather than orbital plans, with compute contracts projected above $28 billion a year. The Memphis clusters also run Musk's Macrohard project, an agent system built to imitate entire software companies. Every quarter of delay costs money, and permits take years. xAI, the MDEQ, and the EPA did not answer questions about pollution impacts on communities of color. The court will decide how environmental law applies to an industry building faster than the rules were written for.
SpaceX's slide risks turning blockbuster IPO into confidence test By Reuters
NEW YORK, July 15 (Reuters) - SpaceX's slip close to its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above $2 trillion. Since then, trading has been rocky. The stock has slipped below its $150 opening price, but remained above the $135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2% at $136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index (NDX). The stock dipped as low as $135.52. A break below the IPO price would be a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not immediately respond to a request for comment. PRICE DISCOVERY NOT PANIC? A drop below the IPO price would not be unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below $135 would reflect "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the $135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. CAUTION OR GREEN LIGHT FOR NEXT IPOS Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. RISKING RETAIL TRADERS' SKEPTICISM A drop below the IPO price could hit retail investors, who received about 20% of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena.
SpaceX IPO Wobbles: Market Confidence Tested as Shares Slide
SpaceX's Slipping Share Price Turns IPO Into Test of Market Confidence Market Reaction to SpaceX's IPO Performance By Laura Matthews NEW YORK, July 15 (Reuters) - SpaceX's slip close to its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above $2 trillion. Since then, trading has been rocky. The stock has slipped below its $150 opening price, but remained above the $135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2% at $136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index <.NDX>. The stock dipped as low as $135.52. Investor Sentiment and Psychological Impact A break below the IPO price would be a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not immediately respond to a request for comment. Price Discovery and Market Mechanics PRICE DISCOVERY NOT PANIC? A drop below the IPO price would not be unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below $135 would reflect "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the $135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. Implications for Future IPOs CAUTION OR GREEN LIGHT FOR NEXT IPOS Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. Retail Investors and Volatility Risks RISKING RETAIL TRADERS' SKEPTICISM A drop below the IPO price could hit retail investors, who received about 20% of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena. (Reporting by Laura Matthews in New York; Additional reporting by Lewis Krauskopf in New York; editing by Megan Davies and Rod Nickel)
What time is SpaceX's Starship Flight 13 launch on July 16? (Full mission timeline)
SpaceX will launch its next Starship, carrying the first V3 Starlink satellites, on the Flight 13 test mission on July 16. SpaceX is just a day away from its first Starship test flight of the summer, and if you're hoping to watch the world's largest rocket lift off, you'll need to know where and when to tune in. But don't worry -- we've got you covered. The next Starship test flight, called Flight 13 (SpaceX doesn't appear to be superstitious), is scheduled to launch from the company's test site in Starbase, Texas near Boca Chica Beach on Thursday, July 16. Liftoff is set for 6:45 p.m. EDT (2245 GMT). As its name suggests, the upcoming flight will be the 13th test launch overall of SpaceX's Starship megarocket. It will be the second such flight this year, after the May 22 launch of Starship Flight 12. SpaceX is designing Starship, which stands more than 400 feet (121 meters) tall, to be a fully reusable rocket capable of launching missions to the moon, Mars or beyond. NASA picked Starship to land its Artemis IV astronauts on the moon by 2028, and SpaceX has sold at least one Starship passenger flight to Mars as well. But before SpaceX can carry astronauts to other worlds with Starship, it has to complete a series of suborbital flights and, eventually, reach Earth orbit for in-flight fueling tests, docking demonstrations and more. SpaceX's Starship Flight 13 is a suborbital test that will be the second flight of SpaceX's new V3 Starship. Below you'll find details on what time Flight 13 will launch, what the mission will do and a full timeline for the mission. What time is SpaceX's Starship Flight 13 launch? SpaceX is currently targeting the launch of Starship Flight 13 for no earlier than 6:45 p.m. EDT (2245 GMT) on Thursday, July 16. However, the exact timing of the launch could change. That's because SpaceX has a 90-minute window in which to launch Flight 13 from Starbase Pad 2. Liftoff could occur anytime between 6:45 p.m. and 8:15 p.m. EDT (2245 to 0015 GMT). SpaceX's launch webcast will begin 30 minutes before liftoff. And remember, SpaceX has at least one backup day, so the launch could slip to July 17 if needed. In that case, it would likely lift off at the same time -- 6:45 p.m. EDT -- and have a 90-minute window, as on the first attempt. Related: Read our SpaceX Starship and Super Heavy guide for a detailed look Can I watch SpaceX's Starship Flight 13 launch? Yes, you'll be able to watch SpaceX's Starship Flight 13 launch online, but you'll have your pick on where to watch. SpaceX will provide its own livestream of the launch via its X account and the official Flight 13 mission page. If everything is on time, that livestream will begin at 6:15 p.m. EDT (2215 GMT) -- 30 minutes before the planned Flight 13 liftoff. Space.com will simulcast the SpaceX Flight 13 launch webcast on this page, as well as an our homepage and YouTube channel. A prelaunch show Now, if you need to get your Starship Flight 13 fix earlier than SpaceX's stream, a good place to look is the NASASpaceflight preshow. They'll have a livestream the day before launch, then constant live views of the pad on launch day many hours ahead of SpaceX's livestream. The NASASpaceflight preflight show will begin on July 15 at 3 p.m. EDT (1900 GMT). NASASpaceflight has a wealth of cameras installed around SpaceX's Starbase test facility, and the company will share up-close views and live commentary for all preflight activities. In-person launch options While SpaceX does not have an official Starship launch viewing site, there are several places where you can see the launch in person around the Starbase area. For first-time spectators, I recommend watching Starship launch from near the Cameron County Amphitheater at Isla Blanca Park on South Padre Island, which is just across the bay from Starbase. The rocky beaches around the amphitheater offer a clear line of sight of the Starship launch pad, and there are often spectators on boats out of nearby Port Isabel offering a picturesque view. It's about 5 miles (8 kilometers) from the launch site, and the park has bathrooms. The traffic getting to South Padre Island (if you're not staying at a hotel on the island) can be heavy on launch days, so another option is watching from the shore in Port Isabel, which is home to Hopper Haus, a SpaceX-themed bar and grill that I can confirm makes awesome burgers. There is also a shoreline stretch of Highway 48 between Brownsville and Port Isabel, from 6 to 8 miles (10 to 13 km) from the launch site, where you can pull up for the day to watch the launch. It's just the side of the highway, so you won't find amenities like bathrooms there. You can learn more about that at the site SpaceLaunchSchedule.com. If you're looking for a more rustic experience (and have cash for a $200 ticket, though kids under 17 are $40), you can camp at the Rocket Ranch, which is 3.8 miles (6.1 km) from the Starbase launch site, and camp there for one day and night. It has two viewing locations available, one at an "Outpost" and the other on the campground itself. The Outpost location is the closest and has "unmatched media service," so you can stay connected. Larger four-day camping packages are also available. The ticket includes bus transportation from the ranch campground to a viewing site and back for one launch attempt. I've actually never visited this ranch, but I wanted to include it so you know it's an option. Be sure to read the full Rocket Ranch FAQ so you know what to expect. How long is SpaceX's Starship Flight 13? SpaceX's Starship Flight 13 test flight will last just over 1 hour and 5 minutes and should follow the same mission profile as the company's last test, Flight 12, in May. This will be the second flight of SpaceX's new Starship Version 3, or V3. During Flight 12, the giant Super Heavy booster stage failed to return to Earth properly for a controlled landing and splashdown in the Gulf of Mexico (which the Trump Administration has renamed the Gulf of America). Instead, the booster crashed into the ocean. "The booster's primary test objective will be executing a successful launch, ascent, stage separation, boostback burn, and landing burn at an offshore landing point in the Gulf of America," SpaceX wrote in a mission overview. "There have been several modifications to hardware and software to address issues seen on the previous flight." Starship Flight 13 will launch from SpaceX's new Pad 2 at Starbase, which the company upgraded with shorter, faster "chopsticks" -- capture arms that can catch returning Starship Super Heavy boosters and Ship upper stages during landing, as well as lift vehicles into place on the pad for launch. Check out our full overview on how SpaceX changed Starship for V3 here. SpaceX will not try to reach orbit with Starship Flight 13 or return its Ship back to Earth for a capture at the launch pad. Instead, both vehicles aim to make controlled descent and water landings, before falling over and sliding into the sea. While the Super Heavy booster will splash down in the Gulf of Mexico off the coast of Boca Chica, the Ship upper stage will follow a suborbital trajectory for a target splashdown in the Indian Ocean off the coast of Western Australia. During the flight, the Ship vehicle will attempt to deploy 20 Starlink V3 satellites, the company's newer and larger satellite-internet units, but they won't reach orbit. They will follow Starship's suborbital trajectory back down to Earth and burn up in the atmosphere. Six of the Starlink V3 satellites are equipped with cameras to record live views of Starship and its heat shield and beam them back to Earth for analysis. "For the first time, Starship will carry V3 Starlink satellites to space, which aim to greatly expand the network's capacity and user speeds. As part of this initial test, Starship is planned to deploy 20 satellites which will extend solar arrays and antennas and will attempt to connect with the larger Starlink constellation via high-capacity lasers," SpaceX wrote in the mission overview. "The Starlink satellites will be on the same suborbital trajectory as Starship and are expected to demise upon reentry approximately 20 minutes after deployment." What if Starship Flight 13 can't launch? If SpaceX can't launch Starship Flight 13 on July 16, the company does have at least one backup day available. According to a Starship town beach closure notice, SpaceX is targeting both July 16 and July 17 as launch days for Flight 13. So, it bad weather or a minor technical issue delays launch, SpaceX could try again on Friday, July 17, at the same time as the original target. It is possible that SpaceX may have additional backup days beyond July 17. That was the case in May for Flight 12, when a series of delays postponed launch from May 19 to May 22. Whichever date SpaceX launches Starship Flight 13, you will be able to follow the mission on Space.com. Be sure to return to Space.com on launch day for complete Starship Flight 13 coverage.
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Space Exploration Technologies Corp. designs, manufactures, launches, and operates products and services built on technologies, including rockets and spacecraft. The Company's segments include Space, Connectivity, and artificial intelligence (AI). Its Space segment designs, manufactures, and launches reusable rockets to provide access to space. Its Connectivity segment operates broadband data and communications network powered by approximately 9,600 Starlink broadband and mobile satellites in Low-Earth orbit, delivering connectivity to consumer, enterprises, and government customers over 164 countries, territories, and other markets. In its AI segment, it operates a vertically integrated AI platform spanning its truth-seeking frontier model Grok, AI solutions for consumer and enterprise customers, X-its real-time information, entertainment, and free speech platform and AI computational infrastructure.
