Why Virgin Galactic Stock Keeps Going Down
Space tourism pioneer Virgin Galactic (NYSE: SPCE) launched its third successful commercial spaceflight on Friday and its fourth successful flight in the past four months. Space fans cheered and...like clockwork, Virgin Galactic's stock went down 3% (through 12:45 p.m. ET) just as it has fallen in six of the last seven trading sessions.
Now investors want to know: What exactly is up with Virgin Galactic and its incredible shrinking stock price?
After all, you couldn't ask for a prettier press release than the one Virgin Galactic issued this afternoon. The flight carried two pilots, an "astronaut instructor," and three paying passengers, each of whom presumably anted up in the neighborhood of $250,000 for their tickets years ago when Virgin Galactic first started preselling reservations.
Source Fool.com
