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Why Virgin Galactic Stock Exploded Higher on Monday

TheMotleyFool

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Why Virgin Galactic Stock Exploded Higher on MondayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Morgan Stanley downgraded shares of Virgin Galactic Holdings (NYSE: SPCE) stock Monday, and no one cares.

In a note out this morning, reported by TheFly.com, the investment bank warned that it has seen "very little company specific news" to justify the stock doubling in price year to date. And yet there is news today. And Virgin Galactic shares are off to the races, up 12.2% as of 10:55 a.m. EST.

Image source: Virgin Galactic.

Source Fool.com

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