What happened When noted short-seller Jim Chanos of Kynikos Associates told investors at the Grant's Interest Rate Observer conference yesterday that he loved space stocks, and would "go long" any publicly traded space company, the news helped to drive Virgin Galactic (NYSE: SPCE) stock up as much as 7%. But then, Chanos clarified that he was just joking about space stocks ... And now, Virgin Galactic shares are headed the other way: down a depressing 8% in Wednesday trading circa 12:05 p.m. EDT. Image source: Getty Images. So what Why such dramatic reactions to what is, after all, just one fellow's opinion -- and the opinion of a pretty pessimistic person to boot? I'm honestly not sure. Possibly, investors are getting the sense that they've been duped, tricked, had the rug pulled out from under them. Lol what a rug pull! — Cade Cunningham (@cadecunninghamc) https://twitter.com/cadecunninghamc/status/1318594555390783489?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Maybe this is why Virgin Galactic stock not only gave up almost all of the gains it scored early yesterday by the close of trading yesterday -- but why it's falling even farther today. Now what But maybe, just maybe, Virgin Galactic itself bears part of the blame here. After all, it wouldn't matter so much what a trader like Chanos says about Virgin Galactic -- whether he likes it or doesn't -- if the company itself was raking in revenue and earning profits from its business sending tourists to space. There'd be solid numbers to hang a valuation on, and investors could decide for themselves if Virgin Galactic was earning to justify its stock price. Instead, the company has mainly produced promises to date -- promises it would begin commercial operations this year and turn profitable next year. Until Virgin Galactic begins fulfilling those promises, you should expect its shares to remain vulnerable to the words of the Wall Street wise. 10 stocks we like better than Virgin Galactic Holdings IncWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Virgin Galactic Holdings Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Virgin Galactic Holdings Inc. The Motley Fool has a disclosure policy.Source