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Bloomberg
Virgin Galactic Holdings Inc shares plunged after the space tourism company again delayed its commercial service, calling for a launch in the second quarter of 2023.
The company had previously disappointed investors by pushing back the launch, once planned for the third, then fourth quarter of 2022. In May, Virgin Galactic delayed it to the first quarter of 2023.
On a conference call Thursday to discuss quarterly results, CEO Michael Colglazier cited supply-chain disruptions and labour constraints as pressures on its operations.
Virgin Galactic shares fell 9% to $7.45 after the close of regular trading in New York. The stock dropped about 39% this year.
The company was founded by entrepreneur Richard Branson.