In other words, shares may have a hard time heading higher in the next few years.Sure, neither SpaceX nor Blue Origin has even announced intentions to go public.
Virgin Galactic shares rose 4.6% in after-hours activity, following a 0.7% rise to close at $18.55 in the regular session. Was it game-changing developments?
Today, the stock changes hands around $23 per share.So, what drove this recent rally? Shares of Virgin Galactic Holdings Inc. shot up 14.9% in active trade toward a four-month high in morning trading Thursday, after Vertical Research analyst Darryl Genovesi reiterated his bullish stance on the space travel company after the appointment of a former Walt Disney Co. executive, Michael Colglazier as its new chief executive. SPCE 18.42 0.81 (4.17%). As our Matt McCall discussed Jul 24, a Assigning such a high valuation to SpaceX implies Virgin may be worth a lot more than what it’s valued today. Elon Musk’s Granted, this competitive risk may be less of an issue right now. Yet, there are other continuing risk factors at play that may convince you not to buy SPCE stock at today’s prices. Investor interest such as that from the Yet, starting in July, shares rallied again. Sure, neither SpaceX nor Blue Origin has even announced intentions to go public. With special purpose acquisition company (SPAC) stocks This may not bode well long term for SPCE stock. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. The Space Sector Online Meetings are dedicated to decision-makers from all over the World Who are users or manufacturers of Space Technologies and who wish to connect to the first Global network of Space Leaders in a short time without having to travel.
It is also destroyed automatically for you when the symbol is changed.Like all ChartIQ markers, the object itself is managed by the chart, so when you scroll the chart the object moves with you. Otherwise, wait for an additional pullback.Registration on or use of this site constitutes acceptance of our
Read Harry Boxer's latest article on … As I write, SPCE stock is extended to the upside, but the continued high volume of buying tells us the trend may continue. Even if rivals like SpaceX and Blue Origin dominate the market, the company could potentially build a profitable business, given space exploration could be a But, at today’s prices, and after the epic rally in July, risk/return may no longer be in your favor. Today, the stock changes hands around $23 per share.So, what drove this recent rally?
The stock has run up 85% year to date, while the S&P 500 has slipped 0.8%.Virgin Galactic Holdings Inc. shares rose Wednesday after the space travel company said it poached a Walt Disney Co. exec to serve as its chief executive. A team of equity strategists at Goldman Sachs examined the stock performance of 56 SPACs that have announced mergers with target companies since the start of 2018.Virgin Galactic announced a second-quarter loss after Monday’s close but the big news came earlier in the day. It is also destroyed automatically for you when the symbol is changed.Like all ChartIQ markers, the object itself is managed by the chart, so when you scroll the chart the object moves with you. A little from column A, and a little from column B. I listed I concede Virgin Galactic continues to have significant potential.
Virgin Galactic . Welcome to 2020! If SpaceX, and/or Blue Origin were to go public, Virgin Galactic could lose a lot of its current investor interest.For now, the respective space ventures from Musk and Bezos remain private. Genovesi kept his rating at buy and his stock price target at $29, which is about 36% above current levels. Even if rivals like SpaceX and Blue Origin dominate the … Underwriters still have access to additional shares.
But what if either or both of them decide to go public?
In short, good reason why shares may head lower over the next few years.Besides this major competitive risk, other factors should remain top of mind.
Bottom Line on SPCE Stock. USPS says price increases due to increased demand' for e-commerce packages amid COVID-19 pandemic In terms of positive developments, Virgin hasn’t been a slouch. If SpaceX, and/or Blue Origin were to go public, Virgin Galactic could lose a lot of its current investor interest.For now, the respective space ventures from Musk and Bezos remain private.
After going parabolic earlier this year, shares cratered during the novel coronavirus sell-off. Elon Musk’s Granted, this competitive risk may be less of an issue right now. If you have an ad-blocker enabled you may be blocked from proceeding.
Right now, Virgin is the only way for retail investors to gain exposure to the space exploration megatrend. But what if either or both of them decide to go public? Copyright ©
With this in mind, selling into today’s strength may be the best call. Right now, this company has a market capitalization of $4.8 billion.While the rising valuation of SpaceX indirectly helps SPCE stock short term, it highlights a long-term risk with this name. Otherwise, wait for an additional pullback.Article printed from InvestorPlace Media, https://investorplace.com/2020/08/sell-into-strength-with-spce-stock/.Financial Market Data powered by FinancialContent Services, Inc. All rights reserved.
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