Virgin Galactic cleared to fly following FAA investigation
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- Virgin Galactic (NYSE:SPCE) is cleared to fly by the FAA following an investigation after the Unity 22 flight went slightly off-course in July.
- The FAA approved corrective actions that include updated calculations to expand the airspace for future flights and ensuring real-time mission notifications are sent to air traffic control.
- Shares are up 7.71% AH.
- Virgin Galactic is preparing for its Unity 23 flight that will take place in mid-October at the earliest after a potential manufacturing defect at a supplier led to delays.
- Wall Street analysts are primarily bullish on Virgin Galactic, while Seeking Alpha's Quant Rating gives it very low value, momentum, and profitability grades. Read Seeking Alpha contributor Cestrian Space Select's analysis of how Virgin Galactic compares to other space stocks.