Why Virgin Galactic Stock Crashed Today
Shares of Virgin Galactic Holdings (NYSE: SPCE) plunged on Wednesday, following a cautionary note from a prominent analyst. As of 12:25 p.m. EDT, the space travel company's stock price was down more than 13%.
Morgan Stanley analyst Kristine Liwag cut her rating on Virgin Galactic's stock from equal weight to underweight. With few near-term catalysts to maintain investors' excitement, Liwag sees Virgin Galactic's share price falling to $25 -- or roughly 20% below the stock's closing price on Tuesday.
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Source Fool.com