Why Virgin Galactic Stock Slumped 10% Today

Shares of space tourism company Virgin Galactic (SPCE -5.26%) tumbled 10% through 10:10 a.m. ET on Wednesday after the company reported mixed earnings for its fiscal Q4 2023 last night.No one expected Virgin Galactic to earn a profit last quarter. (No one expects Virgin Galactic to be profitable for quite a long time, in fact.) It was still a pleasant surprise last night, though, to see that the company lost a bit less money ($0.26 per share) than analysts had feared it would lose ($0.30 per share). On the ...