Why Virgin Galactic Stock Is Continuing to Tumble Today

Shares of Virgin Galactic (NYSE: SPCE) are in a tailspin. After topping $24 a share ahead of earnings on Monday, the stock has fallen 18% since earnings came out, and as of 2:20 p.m. EDT, Virgin Galactic shares are down another 4% today.

Why are investors shunning Virgin this week? Let me count the ways.

There's the fact that the company lost $0.30 per share last quarter, and the fact that it had no revenues whatsoever. There's the big 20.5 million-share stock issuance Virgin announced to raise cash to fund its continuing losses -- and the very strong likelihood that those losses will continue through at least the first quarter of 2021 (when company founder Sir Richard Branson says he will finally take his first flight aboard Virgin's VSS Unity spaceplane).

Source Fool.com