Why Virgin Galactic Stock Is Still Slumping

Rich Smith, The Motley Fool
·2 min read
Why Virgin Galactic Stock Is Still Slumping

Space tourism pioneer Virgin Galactic Holdings' (NYSE: SPCE) stock shed another 5.4% of its market capitalization through 11:11 a.m. EDT Monday morning -- partly because investors are still upset that founder Sir Richard Branson is selling his shares, but also partly because of developments outside of the company last week. Virgin Galactic, as you've probably heard by now, has suspended test flights until May. On April 14, Jeff Bezos' Blue Origin launched its 15th straight successful launch and landing of its New Shepard suborbital space tourism rocket, including simulated passenger embarking and debarking from the rocket's capsule module.