Virgin Galactic shares dive after Morgan Stanley and Credit Suisse downgrade the speculative stock

Chamath Palihapitiya
Olivia Michael | CNBC

Virgin Galactic recently took on the mantle from Tesla of the market's hottest speculative stock, with retail investors jumping in with both feet. But the bubble has popped this week in the space tourism play and losses are accelerating Thursday as two major Wall Street backers downgraded the shares.