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Why Virgin Galactic Stock Crashed This Morning

TheMotleyFool

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Pioneering space tourism company Virgin Galactic (NYSE: SPCE) -- the original space-related special purpose acquisition company (SPAC) -- reported its fourth-quarter and full-year earnings last night. Its stock price promptly crashed after hours, and is down a total of 16% as of 10:35 a.m. ET on Wednesday morning.

But the news wasn't even all bad.

True, analysts expected Virgin Galactic to lose only $0.51 per share for the quarter, and Virgin Galactic actually lost $0.55, which was a disappointment. On the bright side, however, management easily beat revenue expectations with a $869,000 quarter. (Revenue expectations weren't that high to begin with -- only $340,000.)

Source Fool.com

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