Why Virgin Galactic Stock Was Rocketing Higher on Tuesday
Virgin Galactic Holdings (NYSE: SPCE) shareholders got a spot of good news from their company on Tuesday, and they rewarded it by pushing its stock higher. As of late afternoon trading, the share price was up by nearly 7%, in contrast to the slight decline of the S&P 500 index.
That morning, the company announced it has secured land for its planned astronaut campus and training facility. It did not provide any of the financial particulars.
The land is in Sierra County near the company's commercial headquarters in New Mexico, and when (also if) realized, it will be host to a sprawling development that includes astronaut accommodations, an observatory, and a wellness center, among numerous other amenities.
Source Fool.com
