Virgin Galactic Denies Rumor Of Space Launch This Weekend

Shares of Virgin Galactic Holdings Inc SPCE gave up most of its Thursday gains after a company spokesperson told Benzinga there was no truth to a circulating rumor.

Shares of Virgin Galactic were trading higher by more than 10% Thursday morning as traders were circulating a report that suggested the company could launch a rocket this weekend.

Virgin Galactic Spokesperson Aleanna Crane told Benzinga that information on a weekend launch "is not true and we have not communicated anything."

The stock hit an intraday high of $53.25 Thursday morning and sold off after the report. Shares were last seen trading near Wednesday's closing price of $49.55.