Why Virgin Galactic Is Soaring Today

Virgin Galactic Holdings (NYSE: SPCE) is out with earnings and though very little money is coming in, the company's financial position is on the upswing. That's helping rocket the shares more than 10% higher on Wednesday morning.

Space tourism start-up Virgin Galactic hasn't had much to show for its efforts so far, launching founder Richard Branson into space last summer but then suffering a series of setbacks that has delayed commercial launch. The company's fourth-quarter results were a reminder of its current position: Virgin Galactic lost $0.31 per share on revenue of just $141,000.

Image source: Virgin Galactic.

Source Fool.com