Elon Musk's SpaceX postpones Starship launch
Elon Musk's SpaceX has postponed a launch of its massive Starship rocket and said it plans to make another attempt at the test flight on Friday. Musk said on social media that the delay was caused by a malfunctioning hydraulic pin on part of the launch tower. He added, "If that can be fixed tonight, there will be another launch attempt tomorrow at 5:30 CT [22:30 GMT]."
The initial public offering (IPO) on the tech-heavy Nasdaq stock market is set to be the largest in Wall Street history and could start next month under the ticker symbol SPCX. SpaceX described Starship as "the most powerful launch system ever developed" in its IPO filing. SpaceX expects that Starship V3 will be able to carry a payload of 100 metric tons, with future generations of Starship being designed to double this payload. SpaceX has spent more than $15bn (£11.2bn) on the Starship programme, according to the filing.
Space Exploration Technologies brought in $18.6bn in revenue last year but had a net loss $4.9bn. In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn.
Quick Summary
SpaceX, led by Elon Musk, has announced a postponement of its Starship rocket launch. The company plans another attempt soon, but the delay comes at a time when the firm has other big plans in the works.
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