Reported 18 days ago
Virgin Galactic Holdings reported disappointing third-quarter revenue of $0.4 million, significantly below expectations and down 77% from the previous year. The company announced a share issuance of up to $300 million to fund its new space tourism vehicle development amid ongoing cash burn issues. Despite plans to resume ticket sales before the expected commercial launch of the upgraded Delta spaceship in 2026, Virgin's stock plummeted 12%, reflecting investor concerns over its financial outlook.
Source: YAHOO