SpaceX’s gigantic rocket, Starship, exploded in its debut flight test due to an anomaly prior to the stage separation. The Starship successfully blasted off from the Starbase (orbital launch pad). Soon after the launch, the superheavy spacecraft’s multiple engines were out, and the vehicle lost altitude. Further, the booster rocket and Starship failed to separate, and it blew up.
While Starship’s first test flight failed, SpaceX CEO Elon Musk hailed the test launch. Moreover, SpaceX termed Thursday’s launch a success as it paves the way for improved future flights.
Ahead of the launch, Musk urged people to lower their expectations and termed it a “very risky flight.”
The spacecraft is designed to take people to the Moon and Mars. Starship is 120 meters long and has a payload capacity of 150 metric tonnes.
While Musk’s Starship launch wasn’t exciting, his net worth tumbled as shares of Tesla (NASDAQ:TSLA) closed almost 10% lower on Thursday due to the decline in margins. (Read more: Tesla Sacrifices Margin to Spur Demand.)
Tesla stock, which marked significant gains at the beginning of this year, has reversed a portion of its gains and is down over 21% so far this month.
What’s the Prediction for TSLA Stock?
As Tesla chases volumes over profitability, Wall Street analysts are cautiously optimistic about TSLA stock. It has 18 Buy, 10 Hold, and four Sell recommendations, resulting in a Moderate Buy consensus rating. These analysts’ average price target of $211.56 implies 29.8% upside potential at current levels.
