Why Virgin Galactic Stock Can't Get Off the Ground

Shares of Virgin Galactic Holdings (NYSE: SPCE) stock lost 8% of their value Friday, after the space tourism company admitted it won't be starting up space tours quite as soon as hoped.

In a surprise announcement, the company confided Friday that "we have decided to allow more time for technical checks" before proceeding with a space test flight of its VSS Unity spaceplane that had been scheduled to take place Saturday or Sunday.

Flight test update: We have been progressing through our pre-flight preparations and, during that process, we have decided to allow more time for technical checks. We are working to identify the next flight opportunity. pic.twitter.com/DN58qbOoE0

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Source Fool.com