Virgin Galactic Slides 12% Premarket after Commercial Launch Timeline Is Pushed Back Again

Tiger Newspress2022-08-05

Virgin Galactic Holdings spun even lower in after-hours trading after the space flight company missed Q2 estimates and said it would not launch commercial service until Q2 of 2023. SPCE had originally planned to launch commercial service in 2022.

Supply chain and labor issues have hampered progress for Virgin Galactic (SPCE).

CEO Michael Colglazier said work on the fleet continues and the company has put in place powerful initiatives to help drive long-term success

SPCE ended the quarter with a cash position of about $1.1B.

Shares of Virgin Galactic Holdings (SPCE) fell 12.2% in premarket trading to $7.19 vs. the 52-week trading range of $5.15 to $35.62.

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Comments

Tiongwee
2022-08-06
Tiongwee
Like
ocean_wave
2022-08-05
ocean_wave
[Facepalm]
- rhktrade:
  oo
Zarkness
2022-08-05
Zarkness
Hi 👋🏻
Chuatio
2022-08-05
Chuatio
k

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