Virgin Galactic shares climb premarket after two-day slide
By James Rogers
Virgin Galactic shares are down five of the last six days
Shares of Virgin Galactic Holdings Inc. are up 3.9% in premarket trades Thursday, after sliding over the last two days.
The stock is down five of the last six days and ended Tuesday's session down 6.8%, registering its biggest daily percentage decline since Jan. 16, when it fell 7.6%. Last week the space-tourism company completed the penultimate mission of its Unity spacecraft before it halts commercial operations to develop its new Delta-class spacecraft.
Related: Virgin Galactic's stock rises after Truist upgrade
The Galactic 06 mission was Virgin Galactic's (SPCE) 11th mission, carrying four private astronauts into space. The flight marked the first time that all four seats aboard Unity were occupied by private astronauts.
Virgin Galactic plans to launch its Galactic 07 flight during the early part of the second quarter, according to CEO Michael Colglazier, who spoke during the conference call to discuss the company's 2023 third-quarter results.
Related: These are the space stocks to keep an eye on in 2024
The Delta spacecraft will increase Virgin Galactic's monthly revenue per flight from the current maximum of $2.4 million to a potential $28.8 million, the company said in November.
Virgin Galactic shares are down 71.9% in the last 52 weeks, compared with the S&P 500 index's SPX gain of 15.9%.
-James Rogers
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
02-01-24 0809ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued