Why Shares of Virgin Galactic Are Falling Today
Space tourism company Virgin Galactic Holdings (NYSE: SPCE) has been rocketing higher since its public market debut earlier this year, largely due to investor excitement about its long-term potential. Goldman Sachs sees that potential, but it just published a note reminding everyone of the challenges the company faces.
That dose of reality sent Virgin Galactic shares downward in morning trading on Friday. As of noon EDT, they were off by more than 6%.
Virgin Galactic aims to sell tourists brief trips into space at ticket prices of $250,000 or more apiece. The company has a backlog of deposits and lots of potential, but is still very much a speculative venture.
Source Fool.com
