Why Shares of Virgin Galactic Are Higher Today

Why Shares of Virgin Galactic Are Higher Today

Shares of Virgin Galactic Holdings (NYSE: SPCE) climbed 5% on Tuesday after NASA selected it for a flight services contract. The deal value is small, but offers a new source of revenue for the early-stage space tourism company. Virgin Galactic had originally hoped to start flying tourists into space this year, but with pandemic-related restrictions slowing test flights revenue-generating missions are now a goal for 2021.