Why Virgin Galactic Stock Jumped 13% on Monday
SPCEVirgin Galactic(SPCE) The Motley Fool·2024-05-14 00:30

Virgin Galactic stock could go bankrupt... or it could double.Shares of Virgin Galactic (SPCE 11.30%) stock soared 13.5% through 11:45 a.m. ET Monday, and for a most surprising reason: Investment bank TD Cowen lowered its price target on the space stock to $2 per share this morning.Now why would investors look at this report and think it good news? Because despite the lower price target, Cowen says Virgin Galactic stock is still a buy.Is bad news good news for Virgin Galactic?As the analyst explains in a no ...