Why Virgin Galactic's Delays Are Good News
The market didn't like much of what it saw and heard from Virgin Galactic (NYSE: SPCE) when the company reported 2020's fourth-quarter earnings results. Delayed test flights were a big part of Wall Street's disappointment. The company is putting off its next test flight until May, potentially putting the company six months behind its original plan to visit space in 2020, impacted by a COVID-19 shutdown and failed test flight hampered progress.
While delays aren't good, the reason behind them should give investors confidence that management's priorities are in the right places. The company is putting safety over speed, and over the long term that should serve it, and its investors, very well.
Image source: Virgin Galactic.
Source Fool.com