Why Virgin Galactic Stock Dropped Today
Shares of Virgin Galactic (NYSE: SPCE) retraced 4.4% Tuesday -- after rising 5% on Monday in response to the astounding success of rival Blue Origin's auction of its very first space tourism ticket.
Gaining 5% and then losing 4.4% may not sound so bad. It sounds like it should still yield a net gain. But in fact, adding 5% to a smaller number, then subtracting 4.4% from a larger number, means that ultimately ... Virgin Galactic stock ended up lower today ($34.89 a share) than it was before spiking on the Blue Origin news ($35.10)!
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Source Fool.com