Why Virgin Galactic Shares Lost Altitude in March
Virgin Galactic Holdings (NYSE: SPCE) shares fell 17.7% in March, according to data provided by S&P Global Market Intelligence, weighed down by news a prominent shareholder was selling down his stake. This is a stock that moves more on emotion than fundamentals, and sentiment was more negative than positive during the month.
The month started off sour for Virgin Galactic investors, who got word that company chairman Chamath Palihapitiya had sold a significant portion of his holdings. It also lost chief space officer George Whitesides, a well-respected former NASA chief of staff, who left to pursue other opportunities.
Image source: Virgin Galactic.
Source Fool.com