SpaceX has achieved multiple Super Heavy booster catches with the Mechazilla tower and plans a booster reflight later in 2026, but the Starship upper stage has yet to demonstrate a tower catch or any reflight after its July 2026 Flight 13 ocean landing. That test yielded an intact heat shield and successful Starlink V3 satellite deployment, yet the booster experienced a hard splashdown, and full rapid reuse of both stages remains unproven. Regulatory approvals, engine relight reliability, and the shift to V3 vehicles continue to pace progress, with traders viewing the compressed timeline to year-end 2026 as insufficient for completing the critical ship catch, propellant transfer demonstrations, and validated reuse cycles needed for market resolution.