Virgin Galactic fell over 15% in premarket trading
Tiger Newspress2021-05-11
(May 11) Virgin Galactic Holdings is lower after the company did not provide a specific timeline for its next test flight.
"We continue to make strides towards our strategic objectives and have solid momentum as we focus on completing our flight test program," says CEO Michael Colglazier.
The company is evaluating the timing for the next flight.
Virgin Galactic says total future astronauts remained at approximately 600 as of March 31. The company ended the quarter with a cash position of $617M after the $0 revenue quarter.
Shares of Virgin Galactic fell over 15% in premarket trading. That mark is the lowest trading level for SPCE in 2021.
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