Virgin Galactic shares fell more than 9%, according to online sources. This happened after the American company announced the postponement of flight tests of its own spacecraft SpaceShipTwo (VSS Unity), which were supposed to take place on February 13.
“We made progress in the pre-flight preparation process, during which it was decided to allocate additional time for technical checks. We are working to determine the next flight opportunity“- said in a message Virgin Galactic.
It’s worth noting that Virgin Galactic’s shares have surged more than 450% since the company went public in 2019. Virgin Galactic currently has a market valuation of over $ 12 billion despite no revenue and stable quarterly losses.
The company’s shares jumped 13% this week after the FAA approved flight tests on Feb.13. Virgin Galactic confirmed Thursday that preparations for testing are ongoing. Now it was announced that additional technical checks would be required before the flight. This means that flight tests can be postponed for a period of several days to several weeks.
If you notice an error, select it with the mouse and press CTRL + ENTER.