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Virgin Galactic climbs as SpaceX IPO speculation sparks interest in space stocks
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Virgin Galactic climbs as SpaceX IPO speculation sparks interest in space stocks
Virgin Galactic shares climbed about 18% to $3.25 Friday, with trading volume nearly triple the average, as investors bought space stocks after reports of a possible SpaceX IPO. The stock extended Thursday’s 11% gain. Virgin Galactic continues to face significant cash-burn and financing risk while preparing for flight testing later this year. First-quarter results showed a $65 million net loss and negative free cash flow. The post Virgin Galacti…
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