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Why Virgin Galactic Stock Slumped 5% on Wednesday

Why Virgin Galactic Stock Slumped 5% on Wednesday

On Monday, shares of space-tourism pioneer Virgin Galactic (NYSE: SPCE) took off like -- what else? In back-to-back reports, Bank of America upgraded Virgin Galactic shares to buy, and then Susquehanna Research initiated coverage of the stock with a positive rating. Just a day later, however, CNBC.com let some of the air out of the balloon, quoting two other sources who argued that Virgin Galactic stock is not a buy "yet."