This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
In its response to a lawsuit by the environment group Save RGV, SpaceX argues that halting Starship tests in Texas will cost the firm millions of dollars daily and risk its ability to earn revenue and milestone payments for agreements that it has signed with the Air Force and other bodies. SpaceX's water deluge system for the Starship Super Heavy booster requires releasing copious amounts of water to cool the pad during launch, and in its complaint filed yesterday, Save RGV sought the court to stop SpaceX from using the deluge system until its claims were addressed.
In its response to the suit, SpaceX stated to the court that any temporary injunctions stopping it from launching Starship would cost the firm $4 million per day "with little to no return" and jeopardize its plans to launch Starshield satellites, develop a cargo system for the military and launch third generation Starlink satellites.
In its response to Save RGV's lawsuit, which had requested the U.S. District Court for the Southern District of Texas, Brownsville Division to issue restraining orders to to stop SpaceX from using the deluge system until Save RGV's claims were adjudicated, SpaceX responded in its filing that any such orders would cause it millions of dollars in losses. These losses would be in the form of costs incurred to run Starbase, and SpaceX believes that the restraining orders would "delay realization of returns on these capital investments, none of which would be recoverable from Plaintiff."
According to the firm, these costs "include personnel, facilities, overhead, and more" for its Starbase facilities.
Read more on wccftech.com