Virgin Galactic Shares Continue to Rally

Published on: 10 Dec, 2019

Virgin Galactic (NYSE: SPCE) shares continued to rally leading into Tuesday after Morgan Stanley initiated its coverage on the stock on Monday.

On Monday, Morgan Stanley issued an “overweight” rating on Virgin Galactic’s stock, saying that space tourism will send the Company’s shares flying as it proves out a long-term plan of flying people around the world at hypersonic speeds.

Morgan Stanley issued a price target of USD 22.00 per share, representing a 203% increase from Virgin Galactic’s shares on Monday.

Leading into Tuesday, Virgin Galactic shares continued to rally as shares rose by over 10% late morning Tuesday.

Despite the two-day rally, Virgin Galactic shares are still significantly down from its initial public offering.

The Company launched its IPO back in October and saw shares reach as high as USD 12.93 per share. However, at the end of its first trading day, shares closed at USD 11.75 per share.

Since the IPO closing value, Virgin Galactic shares are down 21.4% compared to current levels.

Virgin Galactic said it plans to fly its first space tourism customers in the next six to nine months. The Company highlighted that there are over 603 people who have paid deposits, and some of whom have been waiting for a decade.

Virgin Galactic noted that each seat costs USD 250,000 per person and the Company plans to carry as many as six people in the spacecraft at a time.

Morgan Stanley forecasts that Virgin Galactic will serve over 3,000 people by 2030. 

Ratings

Ratings
  • 1818Views
  • 5Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Bryan Shin

Email: Bryan@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

21 Jun, 2017 3517
27 Jun, 2017 152367
29 Jun, 2017 3044
17 Jul, 2017 2547

5 Comments

RoyadaGax

Jun 28, 2020 at 04 12 pm

Zithromax Dose For Chlamydia https://bbuycialisss.com/ - buy cialis online safely Utah Online Pharmacies buy cialis online cheap Vipps Approved Canadian Pharmacies

REPLY (0)

best place to buy cialis online

Jul 21, 2020 at 03 18 pm

Zithromax Urethritis Optineeswepe https://ascialis.com/# - cialis from india Envivy viagra cialis online Oraphy Cialis geadly Pharmacyrxone

REPLY (0)

cialis prescription online

Aug 27, 2020 at 10 27 am

Cytotec Prostaglandine Fausse Couche Optineeswepe https://cialisse.com/ - generic cialis from india Envivy Vardenafil Generique Oraphy cialis online reviews geadly cialis ratings

REPLY (0)

piemhedge

May 30, 2022 at 12 19 pm

https://newfasttadalafil.com/ - cialis for sale online Canadian Pharmacy Online Drugstore Ldnprz cheapest cialis Cbjfbo cialis side effect blood in semen Parkizol Online Rjmhox https://newfasttadalafil.com/ - Cialis

REPLY (0)

dreandy

Nov 08, 2022 at 02 07 am

the stuff i have used is gtg where to buy cialis online 23, 27 Intra testicular hematomas may lead to necrosis or infection in up to 40 of patients

REPLY (0)