Why Virgin Galactic Stock Just Rocketed 10%
Shares of space-tourism pioneer Virgin Galactic (NYSE: SPCE) took off like a rocket this morning after the company announced it has opened a "systems integration facility" to begin testing its new Delta-class spaceplane -- and that testing of "initial subsystems" has already begun. Even better, Virgin Galactic confirmed that it remains on track to begin flying Delta commercially in 2026.
As of 10:25 a.m. ET, Virgin Galactic stock is up 9.7%.
Virgin Galactic plans to fly its current spaceplane, VSS Unity, just one more time before retiring the model in June. Then it will begin a long, revenue-free financial winter when the company will have no spaceplanes to fly and, therefore, no flights from which to generate revenue until Delta arrives. So a lot is hinging on Delta.
Source Fool.com
