By Kuldip K. Ambastha
On Friday, January 13, 2023, the stock price of Virgin Galactic Holdings Inc. (SPCE), a space flight company, rose by +12.3% for the trading day. The company is considered to be a high-risk, high-reward investment offering, with an ambitious aim to bring commercial space flight to the masses. Its first commercial space flight is scheduled to happen in the second quarter of 2023 (2Q2023), flying passengers 50 miles above Earth for 90 minutes. One ticket for such a flight has a cost of $450,000. While unexpected complications can always come up with space flight technology, Wall Street was certainly impressed by Virgin Galactic Holdings on Friday.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in SPCE.
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