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Virgin Galactic SPCE shares drop after delaying next spaceflight test

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Virgin Galactic’s spacecraft Unity prepares for flight.

Virgin Galactic

Virgin Galactic shares dropped after the company on Friday delayed its next spaceflight test, which was scheduled for this weekend.

“We have been progressing through our pre-flight preparations and, during that process, we have decided to allow more time for technical checks. We are working to identify the next flight opportunity,” the company said in a statement. 

Virgin Galactic’s stock has soared more than 450% since the company went public in October 2019, with its market valuation now reaching near $14 billion — despite the company’s lack of significant revenue to date and steady quarterly losses. Investors’…



Source cnbc.com

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