The Virgin Galactic Holdings (NYSE: SPCE) stock has been in the middle of a bit of a downturn ever since it emerged that Sir Richard Branson is going to sell his shares.
On Monday, the company lost as low as 5.4% of its market capitalization amidst another selloff. While Branson’s decision is a factor in the decline, it should be noted that there are other factors at play here as well. In this regard, it is important for investors to keep in mind that the space tourism company has actually suspended its test flights up until May this year.
On the other hand, Virgin Galactic’s competitor Blue Origin, owned by Jeff Bezos, recently launched its 15th consecutive successful launch. Additionally, SpaceX also earned a new contract from NASA that has put further pressure on Virgin Galactic. It now remains to be seen if the company can make a recovery in the coming weeks.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.