Virgin Galactic is 'overdue' for a correction after surging 223% in a few months, Morgan Stanley says (SPCE)
Business Insider -

Virgin Galactic

Virgin Galactic has been on a torrid rally that's sent the stock up 223% for the year through Wednesday's close. 

Shares jumped as much as 12% in early trading Thursday, the ninth straight day of gains. 

"A modest correction is overdue, and frankly, healthy in our opinion," Morgan Stanley analyst Adam Jonas wrote in a Thursday note. 

Morgan Stanley is bullish on the equity but has struggled to identify "significant thesis changing or accelerating events" since it initiated...

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