Why Shares of Virgin Galactic Are Higher Today

Shares of Virgin Galactic Holdings (NYSE: SPCE) climbed 5% on Tuesday after NASA selected it for a flight services contract. The deal value is small, but offers a new source of revenue for the early-stage space tourism company.

Virgin Galactic had originally hoped to start flying tourists into space this year, but with pandemic-related restrictions slowing test flights revenue-generating missions are now a goal for 2021.

In the meantime, the company is making progress building a relationship with NASA. The government space agency said late Monday it had selected Virgin Galactic and Masten Space Systems to provide flight and integration services for payloads as part of NASA's Flight Opportunities program.

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Source Fool.com