TradingKey – On Friday, SpaceX ( SPCX) tumbled over 4% in premarket trading, with its share price slipping below $130, and is expected to hit a new low since its listing after the opening bell.

Source: TradingView

The catalyst was the last-minute cancellation of the company’s scheduled 13th test flight of “Starship” just before launch. This was not only the second flight test of the Starship V3 configuration, but also SpaceX’s first major test flight since completing its IPO, drawing significant market attention.

The temporary halt of the test flight once again raised investor concerns regarding the company’s pace of technological advancement and short-term stock price performance.