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Virgin Galactic stock dives after analyst says 'SELL' after launch delay, stock sale plan

·1 min read
Virgin Galactic stock dives after analyst says 'SELL' after launch delay, stock sale plan
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Shares of Virgin Galactic Holdings Inc. took a 17.3% dive in premarket trading Friday, after Truist analyst Michael Ciarmoli recommended investors sell in the wake of the space-tourism company's announcement that it was again delaying its first commercial launch and that it was selling more stock. Ciarmoli cut his rating to sell from hold and slashed his stock price target to $5 from $8. Of the 13 analysts surveyed by FactSet, five are now bearish, six are neutral and only two are bullish. In ad