Why Virgin Galactic Stock Popped 5% This Morning
Shares of space tourism company Virgin Galactic (NYSE: SPCE) popped more than 5% in early trading to open the week Monday morning, but those gains are already rolling back. As of 10:40 a.m. EDT, Virgin stock is down to about a 2.5% gain -- and falling.
Honestly, I'm not surprised by that. Virgin bobbed up and down all last week, and mostly on no news -- at least, no news specific to Virgin. For a profitless company with almost no revenues and no business to speak of until it starts flying paying passengers into space, volatility comes with the territory.
Simply put, investors are trading on their hopes and fears for Virgin Galactic and not on the company's numbers -- because it really has no numbers.
Source Fool.com
