Virgin Galactic shares drop 18% after aborted spaceflight test, which the company will repeat

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Virgin Galactic's stock fell in premarket trading on Monday after the space tourism company cut short its latest spaceflight test mid-launch.

due to an engine ignition issue.

The company expects to repeat the spaceflight attempt from its operating base at Spaceport America in New Mexico. Colglazier said that Virgin Galactic is evaluating the data from the test and did not indicate when it expects to be ready to launch again, with the company saying it has several rocket engines "ready" onsite and will "check the vehicle and be back to flight soon."

Saturday's flight was the first of three remaining spaceflight tests the company plans to conduct to complete development of its spacecraft system, the third of which will carry founder. The impact of the aborted test on Virgin Galactic's schedule is yet to be determined, with the Branson flight previously planned for first quarter of 2021.

 

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Most expensive abortion in history

They will repeat the aborted test? Another 16% drop...

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