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Why Virgin Galactic Stock Dropped Today

TheMotleyFool

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Virgin Galactic (NYSE: SPCE) shares, which spiked higher yesterday along with most other space stocks, are retreating today -- down 6.2% in 10:15 a.m. EST trading. Partly, I suspect this is simple profit taking by traders cashing in their windfall profits of yesterday.

But there's another reason for Virgin Galactic stock to be falling, too.

Blue Origin New Shepard crew capsule descends to Earth under parachutes after successful test flight Jan. 14, 2021. Image source: Blue Origin.

Source Fool.com

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