Why Virgin Galactic Stock Dropped Today

Seven months ago, as it anticipated getting its space tourism business off the ground and flying passengers to space, Virgin Galactic (NYSE: SPCE) found itself in need of a new CEO to make that happen. It picked former Walt Disney (NYSE: DIS) Parks International president Michael Colglazier to make that happen.

Today, seven months closer to Virgin Galactic boarding its first passenger, Colglazier himself has reached back into Disney to pull an old colleague aboard. This morning, he tapped Walt Disney Imagineering vet Joe Rohde to become Virgin Galactic's first "experience architect." Despite the news, the company's stock closed the day down 7.9%. 

The folks at Disney have watched another executive leave to go to Virgin Galactic. Is Minnie next? Image source: Getty Images.

Continue reading

Source Fool.com