Why Virgin Galactic Stock Is Higher Today

Virgin Galactic Holdings (NYSE: SPCE) expects a regulatory probe into its July launch will be short-lived, and the stock is rallying as a result. Shares of the space tourism company were up as much as 4.7% on Wednesday afternoon on hopes the company will not be grounded for long.

Virgin Galactic has been flying through some turbulence of late. The company's historic July 11 launch that took founder Richard Branson into space is under investigation by the Federal Aviation Administration (FAA), and Virgin Galactic's spacecraft is grounded until the investigation is complete.

Image source: Virgin Galactic.

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Source Fool.com