SpaceX slips below $140 despite FAA clearing Starship for launch

SpaceX stock has fallen below the $140 level even after the U.S. Federal Aviation Administration completed its review of the company’s Starship Flight 12 mishap and cleared the path for the next launch.

According to data from Yahoo Finance, SpaceX stock was trading near $139 during the latest session, down about 4% on the day. The decline has pushed the shares close to their $135 IPO price and well below the $150 opening level recorded after last month’s public debut.

Over the past five trading days, the stock has lost more than 12%, extending its retreat despite a series of positive corporate developments.

FAA has completed the Starship Flight 12 review

Adding to the company’s operational progress, the FAA confirmed that it has closed its investigation into the Starship Flight 12 launch mishap. In an official statement, the regulator said there were no reports of public injuries or damage to public property during the incident.

The FAA also stated that it reviewed and accepted the findings and corrective actions proposed through SpaceX’s investigation. With the review now complete, the agency said the company may proceed with preparations for Starship Flight 13 as long as all remaining safety and licensing requirements are satisfied.

SpaceX is expected to conduct the Starship Flight 13 test flight as early as this week. Even so, the regulatory clearance has not triggered a recovery in the company’s share price, with the stock continuing to trade near its recent lows.

Another positive development also failed to change investor sentiment. Last week, SpaceX joined the Nasdaq-100 index, a milestone that typically brings additional demand from index-tracking funds and institutional investors. Despite that inclusion, the stock has continued to move lower in recent sessions.

Wall Street analysts bet on further upside

Although the recent price action has remained weak, several Wall Street firms have maintained bullish views on the stock. As previously reported by crypto.news, analysts at Morgan Stanley, Goldman Sachs, and Citi have all issued buy ratings on SpaceX shares despite the ongoing correction from recent highs.

The stock remains well below its record level above $200, increasing the gap between current trading levels and analysts’ long-term targets. Among the most optimistic forecasts, Raymond James recently initiated coverage with a Strong Buy rating and assigned an $800 price target.

According to Raymond James, that target implies potential upside of more than 400% from the stock’s current trading range. The brokerage’s outlook contrasts sharply with the recent weakness that has pulled shares back toward their IPO valuation.

For now, investors appear to be focusing more on the recent selling pressure than on the company’s operational progress. With Starship Flight 13 expected soon following the FAA’s clearance, upcoming launch execution could become the next closely watched catalyst for both the aerospace program and the stock’s near-term performance.