Amazon’s (AMZN) Executive Chairman, Jeff Bezos’ space technology company, Blue Origin, postponed the highly anticipated launch of its New Glenn rocket on Monday. The company cited “a few anomalies” during the mission countdown. The delay marks a setback in the company’s quest to enter orbit and compete with Elon Musk’s SpaceX in the satellite launch market.
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New Glenn Faces Setback amid High-Stakes Inaugural Mission
The partially reusable New Glenn rocket stood 30 stories high and was ready at the Cape Canaveral Space Force Station, loaded with methane and liquid oxygen propellants. The rocket launch was initially slated for liftoff at 1:00 am ET. However, the countdown saw repeated delays, edging closer to the 4:00 am deadline of the launch window. Following the delay, a company spokesperson commented, “We’re standing down on today’s launch attempt to troubleshoot a vehicle subsystem issue that will take us beyond our launch window.”
Furthermore, Blue Origin stated it would review potential opportunities for the next launch, though the timeline remains uncertain. New Glenn’s inaugural flight, if successful, would have been the culmination of a decade-long, multi-billion-dollar development effort. The company is making a bold attempt to land New Glenn’s first-stage booster on a barge in the Atlantic Ocean, a feat Bezos acknowledges as a significant challenge. Bezos remarked to Reuters in a pre-launch interview, “Clearly, on a first flight, you could have an anomaly at any mission phase, so anything could happen.”
Why Is the New Glenn Launch Important for Blue Origin?
The launch of the New Glenn rocket is important for Blue Origin as inside the rocket’s payload bay is the prototype of Blue Ring. The Blue Ring is a maneuverable spacecraft designed for national security and satellite servicing missions. If the company manages to successfully get the spacecraft to its intended orbit on an inaugural rocket launch, it would be a significant achievement for the company.
Bezos Is Confident Musk Won’t Use Trump Ties Against Blue Origin
Meanwhile, Jeff Bezos remains confident that SpaceX CEO Elon Musk won’t use his ties with President-elect Trump to undermine Blue Origin. Furthermore, he remained “very optimistic” about the incoming administration’s space agenda, and stated, “Elon has been very clear that he’s doing this for the public interest and not for his personal gain. And I take him at face value.”
Musk, who has spent over 250,000 billion dollars supporting Trump, and has had significant influence on space policy.
Is Amazon a Buy, Hold, or Sell?
Analysts remain bullish about AMZN stock, with a Strong Buy consensus rating based on 47 Buys and one Hold. Over the past year, AMZN has surged by more than 40%, and the average AMZN price target of $249.16 implies an upside potential of 13.8% from current levels.
