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Rocket Mishap Sparks Investor Curiosity in Space Ventures

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The U.S. Federal Aviation Administration (FAA) and authorities from the Turks and Caicos Islands have initiated investigations into the recent explosion of SpaceX’s Starship rocket.

What Happened: A prototype of SpaceX’s Starship suffered a mid-flight explosion over the Bahamas, just eight minutes into its seventh test launch from Texas. The incident scattered debris across the northern Caribbean.

The FAA, which oversees private rocket launches, stated, “There are no reports of public injury, and the FAA is working with SpaceX and appropriate authorities to confirm reports of public property damage on Turks and Caicos.”

See Also: Mark Zuckerberg Stands To Gain The Most From TikTok’s US Ban: Meta Could Reap Billions In Ad Revenue

Residents of the South and North Caicos islands experienced intense ground vibrations and discovered burnt fragments of what they suspected to be Starship debris. “My mirror and the walls were shaking,” shared Veuleiri Artiles, a resident of South Caicos. Ibalor Calucin, a resident of Providenciales island, compared the experience to an “earthquake,” reported Reuters.

The Starship rocket had been outfitted with advanced onboard features and was carrying its first set of mock satellites. Launched from Boca Chica, Texas, the mission aimed for a suborbital trajectory around Earth. However, communication was lost shortly after its separation from the Super Heavy booster, ultimately resulting in its destruction.

“Initial data indicates a fire developed in the aft section of the ship, leading to a rapid unscheduled disassembly,” SpaceX stated on its website.

SpaceX CEO Elon Musk shared a video of rocket parts raining down from the sky, stating that “success is uncertain, but entertainment is guaranteed.” 

Why It Matters: The explosion scattered debris over the northern Caribbean, leading to the diversion of dozens of flights. American Airlines Group Inc. reported fewer than 10 flight diversions, while a JetBlue Airways Corp. flight from Fort Lauderdale to San Juan had to return to its origin. FedEx Corp. cargo operations also experienced route adjustments.

Meanwhile, SpaceX’s competitor, Blue Origin, achieved a significant milestone when its New Glenn launch vehicle reached space and its intended orbit during its inaugural launch. This achievement solidified Blue Origin’s position as a competitor to SpaceX in the satellite launch business.

  • Read Next: Apple Stock Has Moved Up 4.2% Since iPhone 16 Launched, Analyst Says It Has Another 8% Upside As Manufacturing Cost Decline Bolsters Cupertino’s Margins

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: SpaceX

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