Why Virgin Galactic Stock Kept Falling Today
Fresh off the news of a downgrade to sell that cost its stock 13% yesterday, shares of Virgin Galactic Holdings (NYSE: SPCE) took another hit on Thursday when analysts at investment bank Credit Suisse effectively downgraded the stock yet again.
Technically, this wasn't a downgrade per se but a resumption of coverage of a stock previously dropped from coverage. But when Credit Suisse took up covering Virgin Galactic again today, its rating had dropped to neutral, and with a lower price target to boot, of $30 per share. In response, Virgin Galactic shares closed down 6.3%.
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Source Fool.com
