Virgin Galactic (NYSE: SPCE) announced major changes to its strategy last week, including layoffs that will reduce spending on the existing spacecraft. The hope is that going all in on the Delta spacecraft will be the right move.
In this video, Travis Hoium covers the latest announcement and why this may be the best of several bad options for the company. It’ll now take time to determine if Virgin Galactic can survive.
*Stock prices used were end-of-day prices of Nov. 10, 2023. The video was published on Nov. 11, 2023.
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Travis Hoium has positions in Virgin Galactic. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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