One Small Step
The term “Space Tourism” sounds like something taken straight out of Star Trek. Courtesy of his company Virgin Galactic, Space Tourism is one the many plans Sir Richard Branson has scheduled for the first quarter of 2021.
On Monday, Virgin Galactic’s stock was on pace for its fourth biggest rise in price since its initial public offering last year. The stock is up around 20% today and has rocketed a total of 70% this year alone.
Monday’s price jump is being attributed to Wall Street’s recent coverage on the company. Bank of America Analyst Ron Epstein said, “No company in our coverage universe has anywhere near comparable growth potential.” Bank of America has joined a total of 7 other analysts holding a Buy rating for the stock. None of the eight rated the stock as hold or sell.
There is still lots to go before we can expect to be buying a trip to the stars. Virgin Galactic lacks any significant revenue and is currently reporting multi-million-dollar quarterly losses. Big plans mean big risk but if anyone has a chance at making such a wild dream a success, it is a man with a track record like Sir Richard Branson.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.