Virgin Galactic has lost investor confidence due to launch failures in its rockets, causing it to reduce the cost since June 2021 from $55.9. Over the past week, the price has plummeted 15%. The last trades were made at $8.48, which was very close to the low price of $7.2. And at today’s premarket, the worth has dropped to $8, which shows a 5% loss. However, don’t rush to get rid of SPCE, as Virgin Galactic is currently considered cheap and with the potential for big profits.
Virgin Galactic is an exciting company as it’s going to launch space tourism in the last quarter of 2022 and there’s a lot of money to be made from it. One ticket in the Virgin’s spaceship will cost $250,000. However, given how many billionaires and millionaires there are around the world, Virgin won’t be left without customers. In addition, in the summer of last year alone, more than 600 space flights were already booked with Virgin, which indicates high interest and demand. Thus, its revenue by next year will reach $1.7 billion. We’ve listed the reasons why you should hold this stock, but it’s up to you to make the final decisions. Furthermore, we remind you that the author isn’t responsible for the losses caused by this article.