Why Virgin Galactic Stock Is Falling Today

Shares of Virgin Galactic Holdings (NYSE: SPCE) dropped more than 10% at the open after the space tourism company reported weaker-than-expected results and warned of potential further delays to its testing schedule. Investors knew going into earnings season that Virgin Galactic was bound to report a loss, but the company's first-quarter results came in worse than expected. It could easily fall into 2022, as Virgin Galactic warned it is evaluating the timing of its next test flight.