Virgin Galactic (SPCE) Stock Plummets 11%: Is SPCE Continuing To Trade Lower?

The current trading price is $ 24.59, down $ 3.15 from a week ago. Last Wednesday, the price was $26.60, and the stock had traded at $ 27.74 the day before. On Thursday, it quickly climbed to $ 28.56. However, within a few minutes, it plummeted to $ 25.45, losing 11%. On September 3, the cost declined again, falling to $ 23.93.
Virgin Galactic Holdings (SPCE) continued to trade lower on Friday after a report that the Federal Aviation Administration has suspended the work of Virgin Galactic on Thursday pending an investigation of the previous spaceflight. Virgin Galactic can’t return the spacecraft to flight as long as the FAA doesn’t approve the final report on the investigation of accidents. FAA has determined that the VSS Unity Virgin Galactic had deviated from its Air Traffic Control clearance during spaceflight. The first who reported that during the flight of a problem was the New Yorker. According to CNBC, Virgin Galactic disputes “deceptive characteristics and conclusions contained in the article New Yorker”.

Robert McDowney

Author

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