Virgin Galactic flew four tourists to the edge of space and back aboard its spaceplane, marking the second flight this year, the Richard Branson-founded company said on Saturday.
Shares of Virgin Galactic Holdings Inc. rose 2% in premarket trades as the space tourism company prepares for the final flight of its Unity spacecraft.
Virgin Galactic will launch its final Unity space tourism mission in early June. Rival Blue Origin resumed flying its own space tourism flights in May.
Virgin Galactic will launch its final VSS Unity space tourism flight -- ever -- in June. Flights won't resume until at least 2026, when the arrival of two new Delta-class spaceplanes will enable Virgin Galactic to book $450 million in revenue per year.
Sir Richard Branson's Virgin Galactic Holdings Inc has assured that it is working on a plan to prevent its shares being ejected from the New York Stock Exchange after the stock price fell below the required minimum. The NYSE sent a message yesterday warning the space tourism group that the average closing share price was below $1.00 over 30 consecutive trading days, which is required for continued listing on the exchange.
Sometimes, stocks pop for the strangest reasons.
Investors are hot on Virgin Galactic (NYSE: SPCE ) ahead of the final flight of its Unity spacecraft coming on June 8. Indeed, SPCE stock is up a surprise 20% today with just weeks until the milestone mission.
Shares of Virgin Galactic Holdings Inc. rose 3.9% in premarket trades as the space-tourism company prepares for the final flight of its Unity spacecraft next month.
The Virgin Galactic (NYSE: SPCE) stock price has continued its freefall this year as concerns about its balance sheet continued. It has plunged by over 65% in 2024 and by 81% in the past 12 months, making it one of the worst-performing companies on Wall Street.
Trying to strike a balance between growth and stability is tough. On the one hand, you could stack too much cash into speculative stocks with near-term promises that fizzle into nothing when the rubber meets the road, such as Virgin Galactic (NYSE: SPCE ).