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.
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