Virgin Shares Plunge As Aborted Launch Delays Space Program

After all of SpaceX's aborted launches and outright failures (none of which, thankfully, resulted in the loss of human life), you'd think the market would have internalized the notion that rocket launches sometimes get aborted three or four times before the circumstances align in just the right way.

Not so.

Shares of Robinhood favorite Virgin Galactic plunged 17% in premarket trading to $26.61 early in the NY morning after the company's push to be the first to shuttle tourists to space suffered another setback when a test flight was cancelled shortly after takeoff because of a technical issue.

CEO Michael Colglazier broke the news in a tweet after the launch on Saturday.

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