Virgin Galactic Shares Tumble as Richard Branson Halts Further Investment

Company's stock drops over 17% following announcement, despite plans for new Delta spacecraft set to debut in 2026.

Richard Branson, founder of Virgin Galactic, has announced he will not invest any more money into the company, stating it has 'sufficient funds to do its job on its own.'
Virgin Galactic's shares plummeted more than 17% following Branson's announcement.
The company recently announced job cuts and the suspension of commercial flights for 18 months to save money for a larger spacecraft, called Delta, that would carry passengers to the edge of space.
Despite Branson's withdrawal of further investment, Virgin Investments remains the company's second-largest shareholder at 7.69%.
Virgin Galactic is expected to debut its new, larger line of rocket-powered planes, Delta, in 2026.