Why Virgin Galactic Stock Just Dropped 10%
After successfully launching its Galactic 05 space-tourism flight back in November, space company Virgin Galactic (NYSE: SPCE) took the month of December off. But on Wednesday, Virgin announced that it will resume spaceflights in the new year with Galactic 06 launching on or about Jan. 26, 2024.
Now here's the weird thing: When Galactic 05 launched, Virgin Galactic stock enjoyed an immediate 10% bounce. Today, Virgin Galactic stock went down 10.8%.
So what's up with that? You'd think investors would view Virgin Galactic planning its first spaceflight of the new year -- after launching successfully six times in six months in 2023 -- as good news. But instead, investors seem kind of bummed.
Source Fool.com
