Starship’s major test flight canceled! $SPCX Breaks the issue price and falls below 126—space-themed stocks collapse across the board; the bad news has only just started!

Brothers, SPCX crashed again today. Starship’s 13th test flight was halted at the very last moment before launch. Musk said, “Some engines failed to ignite, and the system automatically terminated.” SPCX then plunged straight through 130, trading at 125.9 now. It marked the first time since the IPO that it closed below the issue price, and it kept falling after-hours. US space-themed stocks saw a broad selloff—ASTS down 17%, RKLB down 11.6%, RDW down 9.7%, SPCE down 4.4%. The entire sector got wiped out in one go.

On the 1-hour chart, it dropped from 137 to 125.85. The MACD dead cross accelerates downward; volume increases, but it’s all sell pressure. Today’s low hit 116. After a streak of consecutive red candles, another big red candle shows up—there are zero signs of a floor.

On the news front, Starship’s test flight failure itself isn’t the main problem—SpaceX has blown up before too, and they can try again next time. But the issue is that since SPCX listed, it’s been falling—from 167 to 116. The market overreacts to any negative news. After breaking the issue price, institutional positions may face passive de-risking pressure, creating a negative feedback loop. Combined with Korea deleveraging, a storage meltdown, and rising macro shock risks, it’s inevitable that space-themed stocks get abandoned in this kind of environment.

Mig long/short trading strategy:
Short on rebounds—enter short positions around 128–129, or aggressively enter near the current price around 126; go long only after waiting for at least a volume expansion rally that recaptures 132 and holds—then try with a light position

Personal view:
Brothers, after SPCX breaks the issue price, the downside room may be bigger than you think. Most of the institutional cost basis is around 150–160. Once it breaks below a key psychological level, de-risking pressure will form a negative feedback effect. Canceling the Starship test flight isn’t itself a big problem, but when market sentiment is fragile, any bad news gets amplified. Don’t rush to bottom-buy now—wait for stabilization signals first.

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