Why Shares of Virgin Galactic Are Falling Today
Shares of Virgin Galactic Holdings (NYSE: SPCE) fell 13% at the open Tuesday after the space tourism company released its second-quarter report Monday and announced a new share offering. Virgin Galactic reported after the market closed Monday, and said it lost $0.30 per share in the quarter, $0.04 per share worse than the analysts' consensus expectation. Virgin Galactic is also delaying the start of its commercial flights until 2021, meaning it will miss its previously stated goal of flying founder Richard Branson into space this year.
