1 Growth Stock Down 80% to Buy Right Now
Deutsche Bank analysts value the global space launch market at around $8 billion in 2022 and $35 billion by 2030, and Richard Branson's commercial satellite launch venture, Virgin Orbit (NASDAQ: VORB), wants to earn its share of that market. But it will be more difficult for Branson's brainchild to reach its full potential after a mission failure earlier this month.
Whether the market's reaction was justified is debatable, but this isn't the final chapter in Virgin Orbit's story. The outcome of an in-progress investigation -- and any follow-up launches -- could give Virgin Orbit investors a reason to shoot for the moon.
In the pre-market hours of Jan. 10, Virgin Orbit stock plunged 22.3% as traders absorbed some unfortunate news: The company's LauncherOne rocket's payload of nine satellites failed to reach its target orbit. As Virgin Orbit's news release explained it, the "system experienced an anomaly, ending the mission prematurely."
Source Fool.com
