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SpaceX to launch first orbital Starship flight Sept. 28 after six-day delay

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SpaceX to launch first orbital Starship flight Sept. 28 after six-day delay

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SpaceX has pushed back the 14th test flight of its Starship vehicle by six days, to Sept. 28 from Sept. 22. The mission from Starbase in South Texas is the program's first orbital flight, with the upper stage slated to reach about 275 kilometers and deploy 26 Starlink V3 satellites. The delay comes as retail investors sold $250 million in SpaceX shares this past week, the largest weekly decline JPMorgan has ever recorded.

Key Facts

  • SpaceX delayed the 14th Starship test flight by six days, from Sept. 22 to Sept. 28.
  • The mission is the program's first orbital flight, targeting about 275 kilometers altitude and deployment of 26 Starlink V3 satellites.
  • Retail investors sold $250 million in SpaceX shares this past week, the largest weekly decline JPMorgan has ever recorded.
  • Ron Baron, whose Baron Capital holds about $25 billion in SpaceX shares, said Starlink alone could generate $1 trillion in revenue in 10 years.
  • SpaceX stock fell over 2% on Friday, paring its weekly gain to around 1%.

Mission Profile

The upper stage is slated to reach about 275 kilometers, complete approximately six orbits over a nearly 10-hour mission, and deploy 26 Starlink V3 satellites, each adding a terabit per second of capacity to the network. The Super Heavy booster will attempt an offshore landing while the ship performs a controlled splashdown in the Pacific west of Chile. SpaceX said that no "Mechazilla" catch is planned this time, walking back earlier expectations.

Investor Reaction

SpaceX (SPCX) fell over 2% on Friday, paring its gain for the week to around 1%, as investors weighed the delay against bullish commentary from one of its largest backers. Per Barron's, JPMorgan noted that around $570 million in retail selling occurred over the past three weeks, with retail investors taking $250 million off the table this past week, the largest weekly decline the bank has ever seen. Billionaire investor Ron Baron, whose Baron Capital holds about $25 billion in SpaceX shares, remains bullish on the stock. In a CNBC interview, Baron laid out an aggressive case for the satellite business, which he estimates generates nearly $18 billion in revenue today.

Merger Speculation

Baron also weighed in on the recurring question of whether SpaceX and Tesla (TSLA) might one day combine, saying he told Musk, "Whatever you decide ... is what I'm going to support." Elon Musk, speaking virtually at the All-In Summit Monday night, called it a fair question whether the two companies would stay separate, given how closely they collaborate. Reports suggested Musk had openly discussed a possible merger before SpaceX's June IPO.

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