Why Virgin Galactic Stock Dropped 6% This Morning
Shares of space tourism pioneer Virgin Galactic (NYSE: SPCE) declined nearly 6% in early trading Tuesday before recovering to only about a 2.5% loss as of 11:30 a.m. EDT -- but if you're a long-term investor in the stock, I don't think there's a whole lot to worry about here.
Why not? Well, for one thing, there's no news behind today's stock decline. Sure, there was also no real news behind yesterday's rally in Virgin Galactic stock, which was in fact up 6% at one point on the back of an analyst's buy rating. Also true, that rally soon faded, and Virgin Galactic shares ended up joining the Nasdaq in the red, down 6% on the day.
Image source: Virgin Galactic.
Source Fool.com
