Why Virgin Galactic Stock Is Down Today
On the last trading day before Richard Branson's planned trip into space, shareholders of Virgin Galactic Holdings (NYSE: SPCE) are taking a "risk off" approach to the stock. Virgin Galactic traded down as much as 7% on Friday morning before recovering somewhat, but as of lunchtime it was still in the red on a day when the overall markets are in rally mode.
All eyes will be on the Virgin Galactic Spaceport America near Truth or Consequences, New Mexico, on Sunday when Branson will make his long-awaited trip into space. It's an important milestone for the nascent space tourism company, and a great marketing opportunity for the brand.
The Virgin Galactic Unity spacecraft attached to its launch vehicle. Image source: Virgin Galactic.
Source Fool.com
