Blue Origin New Glenn rocket explodes during test, damaging launchpad and halting space stock rally

Blue Origin’s New Glenn rocket exploded during a launchpad test in Florida on Thursday, delivering an abrupt setback to the Bezos-backed company and jolting a space stock rally that had been building for weeks. The blast underscored how quickly optimism about the commercial space industry can be interrupted by the technical and operational risks that still define the sector, according to Bloomberg’s reporting.

The rocket was undergoing a test at Launch Complex 36 at Cape Canaveral Space Force Station when the fireball occurred, and the U.S. Space Force said there were no injuries after the incident. The explosion caused extensive damage to the launchpad facility, including damage severe enough to topple one of the site’s 600-foot lightning towers, according to the reporting.