Shares of Virgin Galactic (NYSE: SPCE) blasted off following its reverse merger with a special purpose acquisition company (SPAC). It was able to start launching paying customers into space in 2023. But the hype around this space stock has clearly fizzled, given that it is down roughly 95% from its peak levels in 2021. Before you jump in, perhaps thinking the stock is a bargain, you need to understand these three facts.

On May 25, 2023, Virgin Galactic announced that it had completed its first successful space flight. About a month later, the company announced that its commercial space flight business was ready to start operating. There's no doubt that these two events were vital to the future of the company.

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Source Fool.com