Virgin Galactic shares fall as Bank of America double downgrades stock to underperform

CNBC2021-06-30

Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...

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Comments

AAKM
2021-06-30
AAKM
Oh good
wesley8278
2021-06-30
wesley8278
Wow
Kenny1911
2021-06-30
Kenny1911
If 1st flight successful, they will upgrade them again!
- Cyou2:
  Ok
Wlcha3972
2021-06-30
Wlcha3972
Wow
- SiewHoon:
  👍
- koolgal:
  ??
BigBalls
2021-06-30
BigBalls
Can't collect the coupons
- sk2550007:
  ok

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However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":153729018,"gmtCreate":1625052259034,"gmtModify":1703734891361,"author":{"id":"3585909678013271","authorId":"3585909678013271","name":"wesley8278","avatar":"https://static.tigerbbs.com/09148f57c928a6d05e976eafce426c9f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585909678013271","authorIdStr":"3585909678013271"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153729018","repostId":1170289527,"repostType":4,"repost":{"id":"1170289527","kind":"news","pubTimestamp":1625050848,"share":"https://ttm.financial/m/news/1170289527?lang=&edition=fundamental","pubTime":"2021-06-30 19:00","market":"us","language":"en","title":"Virgin Galactic shares fall as Bank of America double downgrades stock to underperform","url":"https://stock-news.laohu8.com/highlight/detail?id=1170289527","media":"CNBC","summary":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the go","content":"<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic shares fall as Bank of America double downgrades stock to underperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170289527","content_text":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the surging stock price.\n“We continue to see Virgin Galactic as a beneficiary of the new commercial space race. However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":153767218,"gmtCreate":1625052176634,"gmtModify":1703734888701,"author":{"id":"3585379063279167","authorId":"3585379063279167","name":"Kenny1911","avatar":"https://static.tigerbbs.com/103f35c8c97a332b73a2ac784f165e23","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585379063279167","authorIdStr":"3585379063279167"},"htmlText":"If 1st flight successful, they will upgrade them again!","listText":"If 1st flight successful, they will upgrade them again!","text":"If 1st flight successful, they will upgrade them again!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/153767218","repostId":1170289527,"repostType":4,"repost":{"id":"1170289527","kind":"news","pubTimestamp":1625050848,"share":"https://ttm.financial/m/news/1170289527?lang=&edition=fundamental","pubTime":"2021-06-30 19:00","market":"us","language":"en","title":"Virgin Galactic shares fall as Bank of America double downgrades stock to underperform","url":"https://stock-news.laohu8.com/highlight/detail?id=1170289527","media":"CNBC","summary":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the go","content":"<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic shares fall as Bank of America double downgrades stock to underperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170289527","content_text":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the surging stock price.\n“We continue to see Virgin Galactic as a beneficiary of the new commercial space race. However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5080143,"gmtCreate":1625053659605,"gmtModify":1663230332840,"authorId":3571614044609884,"author":{"id":3571614044609884,"idStr":"3571614044609884","authorId":3571614044609884,"name":"Cyou2","avatar":"https://static.tigerbbs.com/3a385102af21e008d83ec34e819d2fe8","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":153767218,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":153768163,"gmtCreate":1625051770652,"gmtModify":1703734880913,"author":{"id":"3578267111105789","authorId":"3578267111105789","name":"Wlcha3972","avatar":"https://static.tigerbbs.com/d11790660e299b666ba14ae4ec86d35a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3578267111105789","authorIdStr":"3578267111105789"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/153768163","repostId":1170289527,"repostType":4,"repost":{"id":"1170289527","kind":"news","pubTimestamp":1625050848,"share":"https://ttm.financial/m/news/1170289527?lang=&edition=fundamental","pubTime":"2021-06-30 19:00","market":"us","language":"en","title":"Virgin Galactic shares fall as Bank of America double downgrades stock to underperform","url":"https://stock-news.laohu8.com/highlight/detail?id=1170289527","media":"CNBC","summary":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the go","content":"<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic shares fall as Bank of America double downgrades stock to underperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170289527","content_text":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the surging stock price.\n“We continue to see Virgin Galactic as a beneficiary of the new commercial space race. However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6745702,"gmtCreate":1638002552746,"gmtModify":1663237653828,"authorId":3577834167694497,"author":{"id":3577834167694497,"idStr":"3577834167694497","authorId":3577834167694497,"name":"SiewHoon","avatar":"https://static.tigerbbs.com/6aaaa4df454bde833fdc1f40118f0bbe","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":153768163,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"},{"id":5852044,"gmtCreate":1631525352788,"gmtModify":1663233814131,"authorId":3559581955535845,"author":{"id":3559581955535845,"idStr":"3559581955535845","authorId":3559581955535845,"name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"currentWearingBadge":{"badgeId":"c4ee29b388ff41cc8462b3b7ea00d1e2-1","templateUuid":"c4ee29b388ff41cc8462b3b7ea00d1e2","name":"Monthly Top Contributor","description":"Top 3 Contributors with the most and best Editor's Picks every month","bigImgUrl":"https://static.tigerbbs.com/b0cad6192443c33dca826a001250fbd4","smallImgUrl":"https://static.tigerbbs.com/5ccd98c646815ce7610b0df338e060cc","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.04.02","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2003},"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.12.24","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":153768163,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"}],"langContent":"EN"},{"id":153785131,"gmtCreate":1625051174923,"gmtModify":1703734870340,"author":{"id":"3568584602754149","authorId":"3568584602754149","name":"BigBalls","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568584602754149","authorIdStr":"3568584602754149"},"htmlText":"Can't collect the coupons","listText":"Can't collect the coupons","text":"Can't collect the coupons","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/153785131","repostId":1170289527,"repostType":4,"repost":{"id":"1170289527","kind":"news","pubTimestamp":1625050848,"share":"https://ttm.financial/m/news/1170289527?lang=&edition=fundamental","pubTime":"2021-06-30 19:00","market":"us","language":"en","title":"Virgin Galactic shares fall as Bank of America double downgrades stock to underperform","url":"https://stock-news.laohu8.com/highlight/detail?id=1170289527","media":"CNBC","summary":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the go","content":"<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic shares fall as Bank of America double downgrades stock to underperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170289527","content_text":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the surging stock price.\n“We continue to see Virgin Galactic as a beneficiary of the new commercial space race. However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5079887,"gmtCreate":1625051395364,"gmtModify":1663230334145,"authorId":3581490759570675,"author":{"id":3581490759570675,"idStr":"3581490759570675","authorId":3581490759570675,"name":"sk2550007","avatar":"https://static.tigerbbs.com/8b5d3961a1a21ba4adc0e9a839b7ebb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":153785131,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":47,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1170289527"}