After some delays, SpaceX’s Starship rocket is back in testing mode, with yesterday’s 13th launch a success. The rocket met the milestones set for the mission, and even launched a batch of satellites. This should give SpaceX and NASA some breathing room, as well as the new investors in SpaceX.
Mr. Musk had a bad week with both Tesla and SpaceX stock struggling. While SpaceX stock fell approximately 7 percent during the five days preceding the launch, the market should be somewhat more confident on Monday morning following the successful test.
Reuters reported last week that short sellers betting against SpaceX are making a fortune to the tune of about $8.7 billion. Mr. Musk may not like this, but if you want to be part of the marketplace then you need to understand how the market works.
In stocks, what goes up can often come down, and it can be painful to watch. As a rocket man, Mr. Musk should be familiar with this.
Maybe his success with Starship on Friday will turn some of that around.
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