Why Virgin Galactic Stock Just Jumped 8%
Shares of Virgin Galactic Holdings (NYSE: SPCE) stock took off on Monday, rising 8.3% through 2:55 p.m. EST after the company confided -- almost as an aside -- that its suspension of test flights of its new spaceplane might not last as long as some investors may have feared.
One week ago to the day, Virgin Galactic shares took a tumble a week after the company warned of an indefinite suspension of its test flight schedule "in accordance with new guidelines from the New Mexico Department of Health to disrupt the spread of the COVID-19 virus in the state."
But in a tweet issued this morning, Virgin Galactic clarified that the New Mexico order it referred to in its earlier tweet actually only restricts its ability to run test flights for a two-week period.
Source Fool.com
