Here Virgin Galactic Space ETF. The skyrocketing space tourism stock has gained a whopping 199% year to date and nearly 310% in the

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[ Here are the three things driving Virgin Galactic’s triple-digit rally: Space ETF issuer ]

The skyrocketing space tourism stock has gained a whopping 199% year to date and nearly 310% in the last three months as speculative investors piled into the name, leading some to label it Wall Street’s new Tesla.

Explanations for the sudden surge have been few and far between, with Morgan Stanley analysts ‘ who have an “overweight” rating on the name along with a $22 price target ‘ calling for an “overdue” correction on Thursday. The stock cooled off on Friday, falling nearly 7% in intraday trading after snapping an eight-day winning streak.

Publisher: CNBC
Date: 2020-02-21T20:45:56+0000
Author: Author link
Twitter: @CNBC
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