$SPCE Why Virgin Galactic Shares Fall Again?
Will Virgin Galactic conduct space flight tests next month or not?
Space tourism company Virgin Galactic plummets for second straight session on Thursday, closing on 3,8% Fall, and a fraction of a percent lower on wednesday.
The drop follows a longer period of growth in Virgin Galactic share prices, which culminated in a peak price on Wednesday at 23,51 dollar, which was reached after, as the company announced, that her "mother ship" VMS Eve (not space plane VSS Unity) just completed flight tests from spaceport America.
However, the excitement about this event, seem to be, subsided quickly.
Why? On the one side, right, that in the past, Virgin Galactic has often accompanied a couple of mothership flight tests with flight tests of its space plane (which the base ship raises to the height, before releasing it into space). Unfortunately, it is also true, what is the last time, when Virgin Galactic conducted flight tests of the mother ship, she abruptly canceled scheduled flight tests of the Unity space plane and postponed them until May.
`` If today investors remembered this unfortunate event, I can't say, I blame them for, what did they wonder, is Virgin Galactic going to release another fake, and reacted cautiously to the stock & quot;.
Wherein, in the absence of any reason to believe, that Virgin Galactic will not deliver on its promise to resume flight tests of the space plane next month, it is reasonable to assume, that the company will do exactly what, what promised. And if Virgin succeeds in successfully flying VSS Unity sometime next month, i would expect, that stocks will reverse and soar again.