Why Virgin Galactic Stock Soared This Week
It's usually good news when an ambitious, upstart company partners with a top name in its industry. At least, that's how Virgin Galactic (NYSE: SPCE) investors reacted to the news of their company partnering with a business at the top of the aerospace food chain earlier this week.
As a result, according to data provided by S&P Global Market Intelligence, Virgin Galactic's shares rocketed nearly 17% higher across this holiday-shortened trading week.
Thursday morning, Virgin Galactic announced that it had reached a deal with Aurora Flight Sciences to partner in the design and construction of its upcoming generation of motherships. Aurora, which has been in business for over 30 years, is a subsidiary of mighty Boeing (NYSE: BA). The arrangement covers the design and production of two motherships.
Source Fool.com
