What's Going On With Virgin Galactic Holdings Stock?

Virgin Galactic Holdings, Inc.  SPCE shares are rocketing higher Tuesday and appear to be recovering from a recent downward trend. 

What To Know:

Virgin Galactic Holdings' shares may be up along with the overall markets on Tuesday as the yields on U.S. treasuries dive. 

Virgin Galactic announced the completion of its fifth successful human space mission in five months, "Galactic 04," on Friday. 

Michael Colglazier, CEO of Virgin Galactic, said: "Our teams in New Mexico and California have delivered on our monthly spaceflight objectives."

"These early missions with our initial ship, VSS Unity, have informed and confirmed the design and maintenance objectives for our Delta class spaceships, and the production tooling for those ships is on track to commence later in the fourth quarter".

Shares of SPCE are moving on heavy trading volume Tuesday. According to data from Benzinga Pro, more than 11 million shares have been traded in the session, compared to the stock's 100-day average of 14.839 million shares.

Although shares of Virgin Galactic holdings are trading nearly 15% higher on Tuesday, the stock remains down more than 24% over the last month.

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SPCE Price Action: According to Benzinga Pro, Virgin Galactic Holdings shares are up 14% at $1.74 at the time of publication.

Image: Courtesy of Virgin Galactic Holdings, Inc.