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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