Virgin Galactic's Problems Are Growing
When Virgin Galactic (NYSE: SPCE) went public via SPAC merger in 2019, the company projected that 66 passengers would fly aboard the company's spacecraft in 2020 and another 646 in 2021. Revenue was projected to be $210 million this year and $590 million in 2023, putting it firmly in rapid growth stock territory.
Investors recently got word that yet another delay is hitting Virgin Galactic, and at best we will see a small number of revenue-generating flights in 2022, assuming no more delays. And with insiders selling shares, there are more than a few reasons to be worried about Virgin Galactic stock.
Image source: Virgin Galactic.
Source Fool.com
