Virgin Galactic SPCE stocks rise after more Wall Street support

Virgin Galactic SPCE stocks rise after more Wall Street support

On October 28, 2019, with Virgin Galactic (SPCE) opening a public deal in New York, Sir Richard Branson is posing on the floor of the New York Stock Exchange (NYSE) with Canadian Future Virgin Galactic space traveler Jennifer Rallison.

Brendan McDermid | Reuters

Virgin Galactic stock soared 22% in trading on Monday after Wall Street companies continued to set higher expectations for space tourism stocks.

Stock jump has come After Bank of America and Susquehanna started covering Virgin Galactic. In particular, the two companies, along with six other companies, recommended shares of Virgin Galactic to investors, giving them eight Wall Street buy ratings and a zero to hold or sell.

Bank of America analyst Ron Epstein said, “No company in our coverage world has similar growth potential.

Virgin Galactic is making its fourth biggest leap on trading day since it was unveiled last year. Shares rose more than 70% this year, including Monday’s gains.

Space tourism has not yet started commercial services Significant lack of revenue and quarterly losses of more than $50 million As we finished developing the spacecraft, however, Virgin Galactic came close to the final development milestone. Two major test flights left over the next few months. Virgin Galactic told shareholders in August that it expects to be the founder. Sir Richard Branson Commercial service begins in Q1 2021.

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