What's Going On With Virgin Galactic Stock?
Portfolio Pulse from Erica Kollmann
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are trading higher due to a rally in heavily-shorted stocks, sparked by the return of Roaring Kitty to social media. The stock has seen heavy trading volume and remains down by more than 65% over the past year despite today's rally. Analysts have mixed ratings on SPCE, with an average 12-month price target of $1.73, suggesting potential upside.
May 14, 2024 | 3:01 pm
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POSITIVE IMPACT
Virgin Galactic's stock is experiencing a significant rally due to the meme stock phenomenon, with heavy trading volume and a high short interest. Analysts have a mixed outlook with a modest average price target suggesting potential upside.
The rally in SPCE shares is directly tied to the broader meme stock movement, which can lead to volatile short-term price movements. The high short interest indicates potential for a short squeeze, further driving up the price. However, the stock's significant decline over the past year and mixed analyst ratings introduce uncertainty, tempering the potential for sustained long-term growth.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100