Why Virgin Galactic Stock Popped 13% Today

Virgin Galactic (NYSE: SPCE) stock is taking wing again.

Soaring past its previous all-time high (hit in January), Virgin Galactic stock passed $15.80 per share around 2:10 p.m. EST today (and is therefore up 13.3% on the day)...and the reason may surprise you.

Turns out, the only news item of note concerning Virgin Galactic today is a press release issued by the company itself. Enrico Palermo, currently the president of The Spaceship Company ("TSC," which builds spaceplanes for Virgin Galactic, its sister company), has also just become the chief operating officer of Virgin Galactic.

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Source Fool.com