Why Virgin Galactic Stock Fell 16.4% in December

Shares of Virgin Galactic (NYSE: SPCE) fell 16.4% in December, according to data provided by S&P Global Market Intelligence. The space tourism company, which was one of the hottest stocks coming out of the March 2020 market lows, has seen its share price deflate recently along with other popular stocks. It also is likely being affected by the progress made by its space tourism competitor, Blue Origin, in recent months.

As of Jan. 8, Virgin Galactic stock is now down 46% in the last three months alone.

In early December, Blue Origin completed its third space flight under its newly launched tourist program, taking ex-NFL star Michael Strahan and five other customers up into space. While still in its early days, this brings Blue Origin's astronaut count up to 14.

Source Fool.com