Virgin Galactic to delay commercial space travel service
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UBS Downgrades Virgin Galactic (SPCE) to Sell
October 18, 2021 4:19 AM EDTUBS analyst Myles Walton downgraded Virgin Galactic (NYSE: SPCE) from Neutral to Sell with a price target of $15.00 (from $26.00).
The analyst comments "In early September, what was supposed to be a late Sept powered flight was delayed to late Oct following... More
Virgin Galactic (SPCE) Stock Crashes 16% on Postponed Commercial Spaceflights, Analyst Lowers PT on Increased Uncertainty and Lack of Clarity
October 15, 2021 8:34 AM EDTVirgin Galactic (NYSE: SPCE) stock price is down over 16% in pre-open Friday after the company postponed the start of its commercial space tourism program to fourth quarter 2022.
SPCE will start the work on its spacecraft and carrier aircraft, which will take at least 8 months to complete. The decision to fast track the development work was made after a recent test flagged a possible reduction in the strength margins of certain materials used to modify specific joints.
The re-sequencing of our enhancement period and the Unity 23 flight underscores our safety-first procedures, provides the... More
