SpaceX Shares Rise 7.35% to $158.96 After a Launch-Packed Week

SpaceX shares closed at $158.96, up $10.89 or 7.35%, at the end of a week that included Starship's first orbital flight, the deployment of 26 third-generation Starlink satellites, the docking of the Dragon crew at the International Space Station, and the launch of Google's 'Sun Catcher' project satellite.

John Edwards, Senior Vice President at SpaceX, described it as an 'amazing week' that involved Starship, Dragon, Falcon 9, and Falcon Heavy, according to Korean outlet 'FN News' on October 3.

Starship's fourteenth flight took place on September 28, reaching Earth orbit for the first time and deploying all 26 of its Starlink V3 satellites. However, one Raptor engine shut down during ascent, and a vacuum-optimized Raptor engine cut off early, shortening the flight to about two or three orbits and ending with a splashdown in the Pacific Ocean. Despite this, SpaceX and independent observers expressed 'broad satisfaction' with the outcome.

In the same context, shares of Alphabet, Google's parent company, rose over 1% following news of the satellite launch carrying Google AI chips. This performance comes at a time when space investments intersect with the computing and AI race, an intersection closely watched by regional investors.

What do these terms mean?

Starlink V3: The third generation of internet satellites launched by SpaceX to provide connectivity from orbit. Raptor Engine: The engine developed by SpaceX for the Starship vehicle. Docking: The attachment of a spacecraft to a station or another vehicle in orbit. Rideshare Mission: A single rocket flight carrying payloads from multiple parties.