Share Prices & Company Research

Market News

12 Feb 2021 | 15:07

Virgin Galactic shares fell after spaceflight delay announcement

(Sharecast News) - Virgin Galactic stock fell on Friday after it announced a delay in a spaceflight test that was scheduled for over the coming weekend. Stock in the Richard Branson owned space company fell over 11% in early trading after having jumped 13% the day before.

"We have been progressing through our pre-flight preparations and, during that process, we have decided to allow more time for technical checks. We are working to identify the next flight opportunity," Virgin Galactic said in a statement.

The upcoming spaceflight test is a redo of the December attempt which the company aborted mid-launch.

America's Federal Aviation Authority had said that the spaceflight was on track to launch as early as Saturday and on Thursday the company had said it was making good progress through the flight's preparations.

The value of the company's stock, which has soared 450% since it went public in late 2019, has reached a market valuation of near $14bn.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.