Why Virgin Galactic Stock Sank Today

·2 min read
Why Virgin Galactic Stock Sank Today

Three months ago, the space industry's most famous company, SpaceX, won a huge victory over rivals such as Lockheed Martin, Northrop Grumman, and their partner Blue Origin -- the space company built by Amazon (NASDAQ: AMZN) founder Jeff Bezos. NASA hired Elon Musk's company to be the sole-source provider of lunar landers for NASA's return to the moon. Space tourism pioneer Virgin Galactic Holdings (NYSE: SPCE) wasn't part of that contest -- but the aftermath may be shaking Virgin Galactic's stock, which was down 3.3% as of 2 p.m. EDT today.

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