Why Virgin Galactic Slipped Another 6% This Morning
Shares of space tourism company Virgin Galactic (NYSE: SPCE) continued tumbling to Earth today, falling more than 6% initially and continuing a stock price rout that began when Goldman Sachs offered a downbeat assessment of the stock Friday.
Although admitting that Virgin Galactic stock "could" have potential once the company begins flying tourists to space, and if it can develop hypersonic airplanes for commercial travel, Goldman warned that the company faces significant competition in the first business area, while hopes for a commercial hypersonic airplane could still be a "very long" way off.
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Source Fool.com
