TradingKey – The last-minute cancellation of the Starship V3 Flight 13 test flight dealt another blow to SpaceX’s stock price, causing it to plunge again, and the stock price may continue to face downward pressure.

On July 16, Eastern Time, Elon Musk’s space exploration technology company, SpaceX ( SPCX) fell over 3% to close at $131.11, officially breaking below its IPO price of $135. In after-hours trading, SpaceX’s stock price continued to decline by over 4%, once dropping to $125, representing a cumulative decline of approximately 44% from its peak of $225 recorded shortly after listing.

The catalyst for this wave of decline in SpaceX’s stock price was the cancellation of the highly anticipated Starship V3 Flight 13 test flight, which…