Virgin Galactic: Does This Moonshot Stock Have a Place in Your Portfolio?
The commercial space race is heating up -- and the possibilities are nearly as limitless as space itself. First movers in this industry stand to monetize space tourism, space mining, and, of course, space aliens, should they exist.
Virgin Galactic (NYSE: SPCE) is a $3.4 billion company focused on the first of these -- the luxury space tourism market. It's set to begin commercial operations this year, and management expects revenue to increase by a whopping 580% -- from $31 million to $210 million -- between fiscal 2020 and 2021. Can they make this work? It's a moonshot, but if things go according to plan, shareholder returns could be massive.
Virgin Galactic is a space tourism company founded in 2004 by British billionaire Richard Branson. When it went public in October through a reverse merger, it became the first publicly traded space exploration company.
Source Fool.com
