Why Virgin Galactic Stock Tumbled by 5% Today

Virgin Galactic (NYSE: SPCE) was anything but ascendant on Wednesday. The space tourism company's stock slumped by over 5% following pronouncements about a future trip from its most high-profile figure. Unfortunately, that person was discussing a trip on a rival's spacecraft.

Earlier on Wednesday, Virgin Galactic founder Richard Branson told CNBC that he aims to hop on board a flight operated by the other famous space tourism operator, the Elon Musk creation SpaceX. The idea seems to be that the two publicity-hungry entrepreneurs will trade flights.

Image source: Virgin Galactic.

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Source Fool.com