Why Virgin Galactic Stock Just Popped 7%
Virgin Galactic (NYSE: SPCE) stock took a tumble earlier this week after the company tweeted its disappointment: A key space test flight that investors had hoped might take off as early as tomorrow has now been delayed indefinitely.
This unexpected news -- necessitated by Virgin's need to abide by government efforts to contain the spread of coronavirus in New Mexico -- sliced 6% off of Virgin's stock price Monday. But as early as yesterday, the stock started to recover, gaining back a couple of percentage points. Today, the recovery is continuing, and as of 12:25 p.m. EST, Virgin Galactic shares are up another 7%.
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Source Fool.com
