How Does The Appearance Of Virgin Orbit Rockets In Times Square Affect The Stock Price?

The American company Virgin Orbit, which operates in the field of Aerospace & Defense and launches various types of spacecraft into orbit, is estimated at $ 2.699B. This is due to the sharp increase in the price to $ 8.05 per share on the last day of trading. On January 3, the cost of VORB was $ 8, which subsequently fell to $ 5.93. However, the favorable news took its toll and the price peaked in a five-day period of $ 8.32 with a trading volume of just under $ 8 million.

The last event that had such an impact on the stock price was the appearance of the Virgin Orbit rocket on Times Square for the purpose of demonstrating and celebrating market entries. As it became known, there was also a satellite on the Boeing 747, which indicates the company’s intention to launch rockets using the air-launch method. This gives the public a unique opportunity to learn more about this technique and the capabilities of Virgin Orbit. Additionally, founder Richard Branson said the recent SPAC deal raised enough money to meet its goals. Recall that the merger raised about $ 68 million in the deal.