Why Virgin Galactic Stock Is Skyrocketing Again Today

Shares of Virgin Galactic (NYSE: SPCE) soared another 13% by 11:00 a.m. EST on Wednesday. Fueling the aerospace company's stock was news that NASA has approved rival SpaceX to become the first company to send humans into space. 

Virgin Galactic's stock has rocketed an eye-popping 200% this year. It's up even more since its unique IPO last fall, as investors grow increasingly excited by the prospects of the company's space tourism program. That potential money-making business got a boost today when NASA gave SpaceX the approval to become the first company to take humans into space. It will send four privately paying space tourists into orbit aboard its Crew Dragon capsule in the late 2021 to 2022 timeframe. 

Image source: Getty Images.

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Source Fool.com