Link here. The article not only provides a thorough review of the company’s most recent test flight and what it did and did not accomplish, it takes a look backward to reevaluate Virgin Galactic’s history, including the many engineering problems in the past few years that have slowed development and risked lives.
The most shocking aspect of this story is this fact:
The fact that VSS Unity was broken was never disclosed to Social Capital shareholders who approved the merger, or to investors who bought the stock after the merged companies went public under Virgin Galactic’s name on the New York Stock Exchange on Oct. 28, 2019.
The source who revealed the near-fatal February 2019 flight to Parabolic Arc questioned whether withholding that information from shareholders was legal under securities laws. A number of law firms have launched investigations into Virgin Galactic recently. Their primary focus seems to be the steep drop in the company’s stock price earlier this year. (It has rebounded sharply since the flight test.) But, perhaps they will carefully review the company’s public disclosures regarding the condition of VSS Unity.
In reviewing the building competition between Virgin Galactic and Blue Origin to fly the first commercial passengers, the article also confirms many of the same observations I have made about both companies.
Read it all. It shines light beyond the pr blather that you will get from most modern media as they rewrite press releases.
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