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Why Virgin Galactic Stock Crashed Today
The Motley Foolยท 2025-12-09 21:01
Can Virgin Galactic dilute its way to success?Virgin Galactic (SPCE 16.26%), the space IPO that promised to commercialize space tourism -- then abruptly halted operations in 2024 to develop a new spaceplane -- tumbled to Earth Tuesday, closing the day down 16.5%. And why?Virgin just announced a "capital realignment" to reduce its debt to manageable levels. Virgin's grand planVirgin Galactic is not in a good place right now. The company's spending $460 million annually in cash burn to develop a new spaceplan ...