Why Virgin Galactic Shares Are Soaring Higher Today

Shares of Virgin Galactic Holdings (NYSE: SPCE) rocketed as much as 8.7% higher on Friday following some positive comments from Richard Branson and the strong reception its sister company received on its Wall Street debut.

Virgin Galactic was one of the first special-purpose acquisition company (SPAC) stocks to hit orbit when it went public in late 2019, but the company's shares have been on mostly a downward trajectory of late. The space tourism company captured the imagination mid-year when it rocketed founder Branson into space, but a combination of technical glitches and delayed timelines has the shares down 73% over the past six months.

Image source: Virgin Galactic.

Source Fool.com