AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Virgin Galactic Holdings (NYSE:SPCE, SPCE:US) has been creating quite a buzz on the stocks markets, having catapulted by nearly 32 per cent on Tuesday, February 15, following an announcement.
- SPCE stock jumped by over 27 per cent week-to-date.
- The US$ 2-billion market cap company had cash and cash equivalents of US$ 721 million at the end of Q3 FY2021.
Virgin Galactic Holdings (NYSE:SPCE, SPCE:US) has been creating quite a buzz on the stocks markets, having catapulted by nearly 32 per cent on Tuesday, February 15, following an announcement.
With its “vertically integrated” spaceflight operations, Virgin Galactic develops aerospace vehicles and systems to offer a “transformative” experience for its customers.
Let us know what this aerospace and air travel company said in its latest announcement.
Why is Virgin Galactic (NYSE:SPCE, SPCE:US) stock trending?
Virgin Galactic, on Tuesday, announced that it will begin selling its spaceflight tickets to the general public from Wednesday, February 16. The company said it is a “limited opportunity” to buy “initial” spaceflight reservations.
The company’s spaceflight reservation also secures membership to the Future Astronauts community.
Michael Colglazier, the company’s CEO said that it is planning to start commercial spaceflights services with first “1000 customers” on board.
Also read: Restaurant Brands (QSR) & FirstService (FSV): 2 trending TSX stocks
The American aerospace company said that this spaceflight will offer a 90-minute journey to astronauts with a “signature” air launch and “Mach-3 boost”.
The total price for these spaceflight tickets is US$ 450,000, with an initial deposit of US$ 150,000. Customers will make the final payment before boarding spaceflight, the company said.
Image source: © 2022 Kalkine Media®
Data source: Virgin Galactic Holdings Inc
Virgin Galactic stock performance
Following this development, the aerospace stock closed higher at US$ 10.74 per share on Tuesday.
SPCE stock jumped by over 27 per cent week-to-date.
Virgin Galactic’ Q3 FY2021 results
The US$ 2-billion market cap company had cash and cash equivalents of US$ 721 million at the end of Q3 FY2021.
Its marketable securities stood at US$ 286 million at the end of the same period.
Bottomline
Virgin Galactic said that its spaceflight (expected to happen later in 2022) will be launched from Spaceport America in New Mexico. The company also stated that it will provide astronaut-specific training programs to prepare them for space travel.
While stocks of space technology and tourism companies have garnered significant interest in recent times, investors should keep in mind that this industry is still relatively in its infancy, with much to be discovered in due time.
Also read: Is NFI Group (TSX:NFI) an EV stock to buy right now?
Please note, the above content constitutes a very preliminary observation or view based on industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
