Why Virgin Galactic Stock Just Dropped an Unlucky 7%
Virgin Galactic(SPCE) The Motley Fool·2024-05-09 00:21
Surprise! Virgin Galactic is a penny stock again.Last night, space tourism pioneer Virgin Galactic (SPCE -2.18%) announced its earnings from the first quarter with the only spaceplane it has. The news was not great, and as of 11:05 a.m. ET on Wednesday, the stock is down 7.1%, making it officially a penny stock again.The decline follows its 10% jump on Monday after the company announced progress on its do-or-die project to build a new Delta-class spaceplane to replace the current Unity-class spaceplane -- t ...