Why Virgin Galactic Stock Is Down Again Today
The Federal Aviation Administration is getting tough with Virgin Galactic Holdings (NYSE: SPCE), and investors are worried about what that means for the space tourism company. Shares of Virgin Galactic traded down more than 6% on Friday, adding to losses Thursday after the FAA grounded Virgin Galactic's SpaceShipTwo.
July 11 was a day of celebration for Virgin Galactic, as the space start-up successfully launched its founder, Richard Branson, to the edge of space. The event was supposed to mark the launch of the space tourism industry, but the FAA is putting that on hold while it conducts an investigation into a mishap during the July flight.
Image source: Virgin Galactic.
Source Fool.com
