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2021-06-30

Oh good

Virgin Galactic shares fall as Bank of America double downgrades stock to underperform

Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the go

Virgin Galactic shares fall as Bank of America double downgrades stock to underperform

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic shares fall as Bank of America double downgrades stock to underperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/06/30/bank-of-america-downgrades-virgin-galactic-stock-to-underperform.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170289527","content_text":"Bank of America downgraded Virgin Galactic by two rating notches on Wednesday, saying much of the good news surrounding the company’s eventual launch of tourists into space is already reflected in the surging stock price.\n“We continue to see Virgin Galactic as a beneficiary of the new commercial space race. However, we believe this premium is already priced into the stock and will dwindle as more commercial space companies go public,” BofA’s Ronald Epstein said in a note.\nBofA lowered Virgin Galactic’s rating all the way to underperform from buy. The firm maintained its price target of $41 on Virgin Galactic’s stock, implying downside of 12.8% to Tuesday’s closing price of $47.02.\nVirgin Galactic shares fell 3% in premarket trading Wednesday following the Bank of America call.\nEpstein’s call comes less than a week after the Federal Aviation Administration gave Virgin Galactic the license it needs to fly passengers on future spaceflights, sending the company’s shares 39% higher on Friday.\n“The development of space technology carries significant risk and the market tends to respond more volatilely to development-related news,” Epstein said.\nShares of Virgin Galactic are down 15.9% this week after Friday’s surge, but the stock price has nearly doubled in 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}