Why Virgin Galactic Stock Dropped 7% This Morning
Shares of space tourism company Virgin Galactic (NYSE: SPCE) fell out of the sky this morning after getting their wings clipped by a column in The Wall Street Journal (WSJ) on Monday. Pointing out that the stock's share price "is up 66% to date," the newspaper warned that "maintaining the buzz will be a struggle" for a company that has yet to generate any appreciable revenue.
Investors seem unnerved by the Journal's warning, and Virgin Galactic stock fell more than 7% in early trading (though the stock has trimmed its decline to just 2.3% through 3:15 p.m. EDT).
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Source Fool.com
