Virgin Galactic (NYSE: SPCE) isn't just trying to build a space business, it is trying to build a space business for the average Joe. That is, for the average Joe who can afford to spend a reported $500,000 or so on space travel, which limits the target audience a great deal. Still, this is an audacious goal and the company reached an important milestone in the effort in 2023. But that first milestone isn't enough to make this stock a buy. Here's what potential investors need to know.

Up until 2023, Virgin Galactic was just an idea. Yes, there was a company, but it hadn't yet proven that space tourism was even possible. That changed in June 2023 when the company completed its inaugural commercial space flight (transporting research payloads for the Italian Air Force and the National Research Council of Italy). It then followed that up by sending the first private astronaut into space in August.

Image source: Getty Images.

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