Should You Give Up on Virgin Galactic Stock?
Going to space is something many of us have dreamed of since we were kids. And many of us dreamers got excited when, in October 2019, Virgin Galactic Holdings (NYSE: SPCE) was added to the New York Stock Exchange via a special purpose acquisition company (SPAC) as the first public pure-play space tourism stock. The company is targeting ultra-high-net-worth clients for the time being -- with reservations going for $250,000 a pop -- but with a little imagination, it's easy to envision a world, maybe even within our lifetimes, where the average person can punch their ticket to the stars.
For Virgin Galactic to remain part of delivering that dream, it needs to begin transporting customers safely into space and earning revenue. It's a race against the clock, as every quarter the company faces more losses and skepticism. Its stock price reflects this struggle.
In less than two years, shares of Virgin Galactic have soared above $60 and crashed as low as $7. As of this writing, the stock is around $19 a share, down a staggering 70% from its high on Feb. 11.
Source Fool.com
