Shares of space tourism company Virgin Galactic (NYSE: SPCE) jumped 12.1% in June, according to data provided by S&P Global Market Intelligence. Through the first three weeks of the month, the stock was actually up more than 70%. But it came crashing back down to earth because of a pertinent financial issue.

On June 29, commercial spaceflights finally commenced for Virgin Galactic. The company officially went public in October 2019, and management had hoped to start commercial flights in 2020. However, it took much longer than expected. Understandably, investors are excited that the long wait is finally over now, thanks to the successful flight of Galactic 01.

While the commercial space flight happened toward the end of the month, Virgin Galactic's management made the announcement on June 15, sending the stock skyrocketing. As mentioned, it was up more than 70% at one point during June.

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Source Fool.com