The stock market dumps Virgin Orbit after failed launch!
The infamous Richard Branson, one of the bunch tech billionaires with a dream of conquering space will not sleep well tonight.
After the failed launch of the satellite yesterday by Virgin Orbit, today, the stock market reacted with a reverse rocket on the price of the stock of Virgin Orbit. The price tanked with 22 % in one day, which is a huge loss for the company.
The short memory of the stock market
This shows once again how stock markets have a very short memory span. This one failed launch doesn’t mean that in the long run this company is bad. It’s one failed launch! A very emotional reaction of the markets which could mean a similar move up after good news is equally possible… That would again be an emotional but not rational move.
Do your due diligence when you buy or sell a stock, and don’t act by emotions!
Well, Virgin Galatic is a company all based on getting to space and I kind of expected it after a failed launch. I am sure that they will have another launch in the future and there will be more hype then but I am not sure where the prices go.
Posted Using LeoFinance Beta
Dude earth is flat: https://www.lassecash.com/@lasseehlers/level
So virgin galactics is a SCAM!
Posted using LasseCash