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Virgin Galactic Holdings Inc (NYSE:SPCE) shares are trading higher on Monday. The move follows positive operational updates and sector-wide momentum.
The Nasdaq is up 0.63% while the S&P 500 has gained 0.41%.
Earnings Beat Estimates
On Mar. 31, the aerospace firm reported its fourth-quarter results. The company posted a loss of 98 cents per share. This figure beat analyst estimates of a $1.05 loss per share. However, revenue of $312,000 missed the $495,000 target.
SpaceShip Assembly Progress
CEO Michael Colglazier noted the first new SpaceShip is nearly complete. Ground testing will begin in April. The company has released limited Spaceflight Expeditions priced at $750,000 each.
“We continue to strategically manage our capital …
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