Virgin Galactic: Buy, Sell, or Hold?
The excitement around Virgin Galactic (NYSE: SPCE) has faded considerably. The shares are now down over 90% from the peak levels reached in 2021. But the idea of a space tourism business might still get the science fiction geek in you all worked up, and there's good reason for that.
However, an idea is not a business and Virgin Galactic has years of work ahead before it becomes a sustainable business. Given where the company is today, should you buy it, sell it, or just hold on?
When Virgin Galactic reported third-quarter 2023 earnings, revenue of $1.7 million was well ahead of the roughly $770,000 or so it brought in during the year-ago quarter. That's good news, for sure, driven largely by the fact that the company has actually started to fly customers into space on a regular basis.
Source Fool.com
