Why Virgin Galactic Stock Jumped Ahead of Tomorrow's Launch

Shares of space tourism company Virgin Galactic (NYSE: SPCE) jumped as much as 12.7% in trading Wednesday ahead of the company's flight tomorrow. At the close of trading, shares were up 9.2%. 

On Thursday, June 29 at 11 a.m. ET, Virgin Galactic will launch its first commercial space flight. Three passengers from the Italian Air Force and National Research Council will be aboard to perform scientific research. This will be the first paid flight and follows about two years of delays for Virgin Galactic. 

The next flight will be in August, and then the company expects to complete monthly space flights. Each flight could bring in about $2 million in revenue, which isn't enough to get the company to profitability, but it will lay the groundwork for future spacecraft like the Delta class that's currently under development. 

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Source Fool.com