Why Virgin Galactic Shares Are Up Today

Shares of Virgin Galactic Holdings (NYSE: SPCE) jumped 6.5% at the open on Monday after the space tourism company announced a partnership with Rolls-Royce (OTC: RYCEY) to develop supersonic propulsion technology. Rolls-Royce is a well-established manufacturer of aircraft propulsion systems, and the company's inclusion lends instant credibility to Virgin Galactic's nascent effort. Virgin Galactic is best known for its work developing a spacecraft designed to take tourists into orbit, but the company has a number of projects in the pipeline.