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Why Virgin Galactic Stock Tanked This Week

·2 min read
Why Virgin Galactic Stock Tanked This Week

Shares of Virgin Galactic Holdings (NYSE: SPCE) dropped 9.9% this week, according to data from S&P Global Market Intelligence. Virgin Galactic is an aerospace company building rockets to take humans to space, either for recreational or research purposes, with the hopes of revolutionizing how we travel across the globe. The company went public through a special purpose acquisition company (SPAC) back in 2019 and has since traded wildly, falling in and out of favor and becoming a popular meme stock along the way.