Why Virgin Galactic Stock Yo-Yoed Up Another 6% This Morning
Shares of Virgin Galactic (NYSE: SPCE) were bouncing back today to where they were Monday, gaining nearly 6% in early trading and still up a respectable 3% as of 12:25 p.m. EDT on Thursday. Shares had popped 25% on Monday after a pair of Wall Street analysts urged investors to pile into the space tourism pioneer's stock ahead of its upcoming Q3 2020 earnings release on Nov. 5.
But investors piled back out of Virgin Galactic on Wednesday, when CNBC reported notes of caution from other analysts who worried that Virgin Galactic is still not profitable. And it might not ever become profitable, they said, if the high price it plans for tickets aboard its space planes limits the potential client base.
Image source: Virgin Galactic.
Source Fool.com
