Not Virgins Anymore: Richard Branson's Space Company Launches Tourists Into Space For First Time
Portfolio Pulse from Aaron Bry
Virgin Galactic Holdings Inc (NYSE:SPCE) successfully launched tourists into orbit for the first time. The passengers included former Olympian Jon Goodwin and a mother-daughter pair who won their tickets through a lottery. The company's stock traded higher Thursday morning before reversing and dipping slightly in the red. The stock is currently down about 3% YTD versus the S&P 500’s gain of more than 17% in the same time period.
August 10, 2023 | 5:28 pm
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Virgin Galactic's successful tourist launch could boost investor confidence, but the stock dipped slightly after an initial rise. It's down 3% YTD, underperforming the S&P 500.
The successful launch of tourists into space is a significant milestone for Virgin Galactic, which could boost investor confidence in the company's future prospects. However, the stock's performance has been lackluster, with a YTD decline of 3% compared to the S&P 500's gain of 17%. This suggests that despite the positive news, investors may still have concerns about the company's profitability and the commercial viability of space tourism.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100