Why Virgin Galactic Stock Is Soaring Higher Today
Shares of Virgin Galactic Holdings (NYSE: SPCE) rocketed 20% higher on Monday following a successful test launch over the weekend. It's a step in the right direction for Virgin Galactic, and investors are responding with cheers.
It has been a rough few months for Virgin Galactic holders. The stock is off nearly 60% from its mid-February high on concerns about the company's ability to complete its testing schedule.
Virgin Galactic had originally hoped to launch its space tourism business last year, but delays due to pandemic-related issues and technical concerns foiled that timeline. Earlier this month it warned it was evaluating a new issue that it said could further delay testing, but late last week said things were a go for the weekend.
Source Fool.com
