Virgin Galactic (NYSE: SPCE) has been a hot news topic of late as the company successfully sent a test flight into space. And then it followed that up with its first flight-carrying paying customers. These were wildly important steps for the company as it looks to, essentially, create a space travel industry geared toward consumers. But is this early success enough to justify buying the stock?

Back in 2021, investors were really excited about Virgin Galactic and the idea of space travel. The stock hit a high of around $60 per share. Today, in July 2023, the shares are in the low single digits, having suffered an over 90% decline from their high-water mark. Clearly, the enthusiasm has cooled off, but that doesn't mean that this space stock has fallen out of the headlines.

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Source Fool.com