Shares in Virgin Orbit, the company behind the failed first UK space launch, are on course to fall by more than a fifth at the market open in the US
The mission used a converted jumbo jet named Cosmic Girl to deploy the rocket.
The two-stage rocket has suffered technical problems before but they are understood to have been limited to the primary engine.Virgin Orbit - spun out of Virgin Galactic - went public in 2021 via a so-called SPAC merger. The failed launch was seen as spooking investors further and the shares were a further 23% down in premarket deals.Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said of the reaction:"There had been high hopes that the operation would be the start of a brighter future for Virgin following the troubles which have beset the company since it became a publicly traded company, following the SPAC merger with Next Gen Acquisition in 2021.
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