Why Virgin Galactic Stock Just Slid Another 5%

Shares of Virgin Galactic stock (NYSE: SPCE) tumbled 4% yesterday after the company priced a 23.6 million-share secondary stock offering at $19.50 -- actually falling below the price that new investors will be asked to pay to participate in the offering, which closes on Monday, Aug. 10. After all, why would investors want to buy Virgin Galactic stock today, when they know that other folks will be buying it a few days from now -- for less money? If you ask me, it all comes down to investors looking for a reason to buy Virgin Galactic -- not necessarily today, or Monday, but any time at all over the next few months.