The space tourism company Virgin Galactic stock jumped by more than 31% after it opened its spaceflight ticket sales today. The stock had declined by about 80% over the past 12 months after the company delayed the start of commercial spaceflights.
The start of the public spaceflight ticket sale is therefore expected to propel the Virgin Galactic Stock stock to a new high especially if the company follows through and conducts the actual space flight soon.
The spaceflight tickets are going for $450,000 for a single-seat purchase and require a deposit of $150,000. People can choose from three packages: a single-seat purchase, packaged seats for couples and family or friends.
Of the $150,000 deposit, $25,000 is non-refundable.
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What is Virgin Galactic Stock?
Virgin Galactic Stock is the stock of Virgin Galactic Holdings Inc Company and it trades on the New York Stock exchange under the symbol NYSE: SPCE.
Virgin Galactic is an American-based spaceflight company that was founded by Richard Brandon. Richard Brandon’s British Virgin Group holds an 11.9% stake in the Virgin Galactic company through Virgin Investment Limited.
The headquarters of Virgin Galactic is California, USA but mostly operates in New Mexico.
The company recently conducted a successful human spaceflight test where the founder Richard Brandson was among those who took part in the test flight.
Should I buy SPCE stock today?
If you are looking for a tech stock that has been on the decline but just started rising, then the SPCE stock could be a good choice.
Nevertheless, Virgin Galactic just conducted its first human test flight and the space industry is a risky business since there are a lot of unknowns for the success of any mission.
Any flip flop with the space flights would be disastrous for the Virgin Galactic stock.
Virgin Galactic stock price prediction
After a long bear market, the price of the Virgin Galactic stock has turned bullish and it could move higher especially if the company conducted another human spaceflight.
Analysts have set their eyes on the price target of $12 before the end of February 2022.
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