Here's Why Virgin Galactic Shares Lost Half of Their Value Since the Start of 2022

Virgin Galactic Holdings (NYSE: SPCE) is already more than two years behind its original schedule for launching commercial service. In the first half of 2022, investors learned of a new setback that would delay things further.

In a market that was unkind to speculative stocks in general, the Virgin Galactic news was not well received. Shares of the Richard Branson-backed space start-up fell 55% in the first six months of 2022, according to data provided by S&P Global Market Intelligence.

Virgin Galactic captured the imagination from the beginning, promising to launch a new era in space exploration by ferrying tourists into the outer atmosphere for a brief period of weightlessness. The company was also one of the first in a wave of start-ups to go public via a special purpose acquisition company (SPAC) when it hit the New York Stock Exchange in October 2019.

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Source Fool.com