Why Virgin Galactic Holdings Inc's Shares Plunged 18.2% Today
Shares of rocket company Virgin Galactic Holdings Inc (NYSE: SPCE) fell back to earth today after more than doubling so far this month. Shares fell as much as 18.2% today but recovered a lot of those losses and were down just 2.6% at 12:20 p.m. EST. There seems to be no end to the ups and downs of this stock.
Ahead of next Tuesday's earnings report, Morgan Stanley analyst Adam Jonas warned that the stock may dip after earnings. He said a correction is "overdue" at this point and still has a $22 price target with an overweight rating on the stock.
Image source: Virgin Galactic.
Source Fool.com
