Virgin Galactic’s 200% Rally Comes to a Screeching Halt (1)

A rapid rally in shares of Virgin Galactic Holdings Inc. that burned short sellers betting against the space tourism firm, came to a sudden halt on Tuesday as the shares nosedived following a recent trend among other rocket and satellite companies.

Shares of Virgin Galactic soared more than 200% since May 20 through Monday’s close, pushing short-sellers’ paper losses to $64 million for this year, according to data from S3 Partners. However, the stock sank as much as 36% on Tuesday as the breathless rally ran out of steam.

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