What you have is a manufacturing defect called a cold solder joint. There was not enough heat or flux present to properly wet the solder to the component.
This is a very weak joint, and may have passed any electrical test the manufacturer may (or may not) have performed. This can be caught by human or automated visual inspection of the board.
The joint could have broken at any time. However, this is definately a manufacturing defect, and you can likely make a warranty claim on it. I believe that if the joint was properly soldered, the PCB pads/traces or the component would be damaged. Solder joints are pretty strong.
As mentioned in other answers, it's completely possible to fix this. However, on the other side of the component (which we cannot see) are two more solder joints. These may or may not have wetted properly. If they were strong joints, the movement of that component may have lifted the pads/traces from that part of the board. This is okay! They will still conduct, just be careful not to break them. Once you fix it, put a bit of epoxy over it to hold it down, as those pads are no longer performing their mechanical duty of holding the component stable.
Here's a link to IPC 610, which is the standard followed by most manufacturers. That link says "proposed", but it's a good example. I don't think I can link the real thing. Check out the section "5.2.4 Soldering Anomalies – Nonwetting"
IPC-T-50 defines nonwetting as the inability of molten solder to form a metallic bond with the basis metal. In this Standard, that
includes surface finishes, see 5.2.1.