Virgin Galactic slides 10% as investors look to sell 113 million shares - Business Insider

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Virgin Galactic slides 10% as investors look to sell 113 million shares

"Virgin Galactic is now conducting post-flight analysis and can so far report that the onboard computer which monitors the propulsion system lost connection, triggering a fail-safe scenario that intentionally halted ignition of the rocket motor," the company said in a statement.

It's unclear when the test flight will be rescheduled. The initial plans to hold the test in November were already delayed once after rising COVID-19 cases in New Mexico squandered launch efforts. Virgin Galactic closed at $25.50 on Thursday. The company has five "buy" ratings and four "hold" ratings from analysts, with a consensus price target of $24.56.

 

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Hex for those who can’t fly.🧑‍🚀

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