It's Tuesday, and just like Monday, space tourism pioneer Virgin Galactic Holdings' (NYSE: SPCE) stock is down again -- falling 6.1% through 10 a.m. EDT.Last week, Virgin Galactic stock got rocked by news that the company's founder, Sir Richard Branson, sold off another big chunk of shares.
Full Answer
Is Virgin Galactic's stock a buy after its historic space flight?
Mar 02, 2021 · Why Virgin Galactic Stock Just Crashed. ... But today, investors are getting a little bit more discerning -- and Virgin Galactic stock is dropping 5.7% in 12:30 p.m. EST trading.
Is Virgin Galactic stock taking an 8% haircut today?
Jul 20, 2021 · Why Virgin Galactic Stock Just Crashed 8% By Rich Smith - Jul 20, 2021 at 11:57AM You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.
Can Virgin Galactic compete with Blue Origin in the space tourism space?
Apr 20, 2021 · What happened It's Tuesday, and just like Monday, space tourism pioneer Virgin Galactic Holdings ' ( SPCE -1.43% ) stock is down again -- falling 6.1% through 10 …
Is Virgin Galactic stock under threat from Ark invest?
Jul 20, 2021 · Why Virgin Galactic Stock Just Crashed 8% Rich Smith 7/20/2021. Businesses Could Face $136K Fine for Violating Biden Vaccine, Testing Mandate. Body of WWII veteran who died from COVID underwent ...
Why is Virgin Galactic stock crashing?
In late 2021, shares of Richard Branson's company tumbled after Galactic said commercial operations would be delayed because of an issue related to the strength of the materials it uses in its spacecraft. The update came in the company's fourth-quarter results.Feb 22, 2022
Why is Virgin Galactic being shorted?
A short squeeze for Virgin Galactic occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of SPCE, which in turn drives the price of the stock up even further.
Is Virgin Galactic a risky investment?
Virgin Galactic is an extremely risky offering that's not for the faint of heart — and when it comes to a potentially game-changing opportunity like this, investors are always going to have to pay a premium, even without a concrete roadmap to future profitability.Jan 7, 2022
Is Virgin Galactic a good stock buy?
The thought of commercial space travel is becoming more of a realistic dream. Currently Virgin Galactic (NYSE:SPCE) is the only publicly traded company that is likely to take humans into space for as a business.Nov 10, 2021
Does Virgin Galactic have a future?
Richard Branson's space company, Virgin Galactic, plans to ramp up tourist flights in 2023. It aims to send customers to space three times per month starting in the middle of that year. Virgin Galactic has accumulated 700 reservations for future spaceflights.Nov 9, 2021
Is Virgin Galactic overvalued?
Virgin Galactic is an overvalued growth stock with a reasonable chance the company will eventually grow into its current valuation. Of course, that growth may take five years or longer to play out.Jul 9, 2021
Will Virgin Galactic be profitable?
It hopes to have five spaceships and operate 270 flights a year by its fourth year of commercial operations, which is projected to take in $590 million in revenue, while gross profit will stabilize at approximately 70%.
Does Virgin Galactic make money?
The company's main sources of revenue currently are carrying payload cargo and providing engineering services. Virgin Galactic plans to generate the majority of its revenue from selling flight tickets to space once it launches its spaceflight services business.Oct 4, 2021
Good news for Blue Origin is apparently bad news for Virgin Galactic
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
It's official. Virgin Galactic ( NYSE:SPCE) has competition in the space tourism space.
So what
What's the connection among all these events? Simply this: Nine days ago, Virgin Galactic pioneered the business of space tourism by flying the first FAA-authorized " full commercial launch " to the edge of space.
Now what
Now does this justify Virgin Galactic stock taking an 8% haircut today?
What happened
It's Tuesday, and just like Monday, space tourism pioneer Virgin Galactic Holdings ' ( SPCE 4.70% ) stock is down again -- falling 6.1% through 10 a.m. EDT.
So what
First and foremost, a hat tip to Wood for updating the public on her various ETFs' stock purchases and sales in near real time. For fans of the growth stock guru, this is invaluable information that she doesn't necessarily have to report as clearly as she does -- but she does it anyway, and I appreciate the effort. Now, on to the news:
NYSE: SPCE
As ARK's website reports, on April 19, the ARK Space Exploration & Innovation ETF ( ARKX 2.04% ) sold 275,204 shares of Virgin Galactic, and the ARK Autonomous Technology & Robotics ETF ( ARKQ 1.57% ) sold 315,600 shares of Virgin Galactic.
Now what
In total, the more than 590,000 shares that ARK just sold outweigh the 515,000 shares of Virgin Galactic that the funds bought last week, with the result that Virgin Galactic now makes up barely 0.1% of the value of all stocks owned by ARK.
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What happened
It's official. Virgin Galactic (NYSE: SPCE) has competition in the space tourism space.
So what
What's the connection among all these events? Simply this: Nine days ago, Virgin Galactic pioneered the business of space tourism by flying the first FAA-authorized " full commercial launch " to the edge of space.
Now what
Now does this justify Virgin Galactic stock taking an 8% haircut today?
What happened
It's Tuesday, and just like Monday, space tourism pioneer Virgin Galactic Holdings ' (NYSE: SPCE) stock is down again -- falling 6.1% through 10 a.m. EDT.
So what
First and foremost, a hat tip to Wood for updating the public on her various ETFs' stock purchases and sales in near real time. For fans of the growth stock guru, this is invaluable information that she doesn't necessarily have to report as clearly as she does -- but she does it anyway, and I appreciate the effort. Now, on to the news:
Now what
In total, the more than 590,000 shares that ARK just sold outweigh the 515,000 shares of Virgin Galactic that the funds bought last week, with the result that Virgin Galactic now makes up barely 0.1% of the value of all stocks owned by ARK.
What happened
Big changes are afoot at space tourism company Virgin Galactic ( SPCE -6.77% ) -- and it would appear they are not good news for the stock, which is down 15.1% in 11 a.m. EST trading Friday.
So what
Now it's important not to overstate the case here. Palihapitiya has not "dumped all of his shares," as some might interpret this statement. In fact, he still owns a whopping 15.8 million shares of Virgin Galactic stock -- 6.7% of all company stock outstanding -- indirectly owned jointly with investment partner Ian Osborne through SCH Sponsor Corp.
Now what
It's not clear precisely when Whitesides "left the building." However, Virgin Galactic has just confirmed to me that Whitesides has in fact "stepped down from his position as Chief Space Officer to pursue potential opportunities in public service," adding that "he will remain chairman of the Company’s Space Advisory Board."
