Virgin Galactic Stock Drops About 20 Percent After IPO | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.06.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

Tue, Nov 05, 2019

Virgin Galactic Stock Drops About 20 Percent After IPO

 Closed The Week At $9.46

Those who bought Virgin Galactic Holdings when it went public at the end of October hoping the stock would ... well ... rise like a rocket were disappointed when the price fell about 20 percent before recovering a bit by the end of the week.

After opening at $12.34 on Oct 28, the price did climb to $12.90 in about an hour before starting to decline. By Friday, the price had fallen to $9.12 at about 10:00 a.m., then began to rise. It ended the day at $9.64. It is the only publicly-traded space tourism company.

The blog Bezinga reports that analysts believe that the reason for the drop is that Virgin Galactic is still not actually flying people into space. That makes it difficult for investors to use normal metrics to measure the success of the company.

Not to say that people aren't interested in flying to the edge of space. The company has taken orders from some 600 potential astronauts willing to pay up to $250,000 each for the short ride. Virgin Galactic says the price will likely go up once it begins to take new bookings.

There is still not a hard timeline for the onset of operations by the company, though the VSS Unity spacecraft has conducted test flights to the fringe of space. Maybe once the first paying passengers are able to make the trip, the stock price will follow to the stratosphere.

(Image from file)

FMI: Source report

Advertisement

More News

ANN's Daily Aero-Term (05.10.24): Takeoff Roll

Takeoff Roll The process whereby an aircraft is aligned with the runway centerline and the aircraft is moving with the intent to take off. For helicopters, this pertains to the act>[...]

Aero-News: Quote of the Day (05.10.24)

“We’re proud of the hard work that went into receiving this validation, and it will be a welcome relief to our customers in the European Union. We couldn’t be mor>[...]

Airborne 05.06.24: Gone West-Dick Rutan, ICON BK Update, SpaceX EVA Suit

Also: 1800th E-Jet, Uncle Sam Sues For Landing Gear, Embraer Ag Plane, Textron Parts A friend of the family reported that Lt. Col. (Ret.) Richard Glenn Rutan flew west on Friday, M>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

Aero-News: Quote of the Day (05.11.24)

"Aircraft Spruce is pleased to announce the acquisition of the parts distribution operations of Wag-Aero. Wag-Aero was founded in the 1960’s by Dick and Bobbie Wagner in the >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC