Why Virgin Galactic (SPCE) Stock Is Trading Lower

Virgin Galactic Holdings Inc SPCE shares are trading lower by 6.26% to $4.34 Thursday morning.

The stock is falling after Virgin Orbit Holdings Inc VORB, the sister company of Virgin Galactic, announced a company-wide operational pause in order to conserve capital while it conducts discussions with potential funding sources and explores strategic opportunities.

Virgin Orbit currently expects the operational pause to continue through March 21, 2023. Richard Branson's satellite launch company is additionally furloughing nearly all its employees...Read More

According to data from Benzinga Pro, SPCE has a 52-week high of $11.25 and a 52-week low of $3.24.