Virgin Galactic Holdings (SPCE) soars on its first day of trading after a successful test flight of SpaceShipTwo, founded by billionaire Richard Branson.
Virgin Galactic Holdings (SPCE) shares were up 6.36% to $21.07 last checked in the current market. In the previous session, SPCE traded at $19.81. Its volume remained high at 51.03 million shares, more than its average daily volume of 14.15 million shares over the past 50 days. During the past 12 months, SPCE shares have gained 43.24%. This week, SPCE shares gained 30.22%. This stock has plummeted at -55.29% over the past three months, while it has shed -6.73% over the past six months. Additionally, the company has a current market value of $4.77 billion and outstanding shares counted at 234.19 million.
Virgin Galactic stock was suspended from trading at the St. Petersburg Stock Exchange after a sharp jump in quotations. During the first ten minutes of bidding, the change of 20% was so significant that it halted the bidding for 30 minutes.
A test run in December 2020 was interrupted because of engine problems. In February 2021, Virgin Galactic would have launched SpaceShipTwo, but the company announced a new date to “allow time for technical checks the day before.” During Virgin Galactic’s quarterly report released in early May, the company could not give a specific date for the next test.
Virgin Galactic’sSpaceShipTwo test flights took place on May 22. Bloomberg says the company will resume sales for tourist flights and make good on its launch plans, including Richard Branson’s flight into space this summer. Virgin Galactic now has three more test flights ahead of its first commercial launch.
It was the first successful test since February 2019. The Virgin Galactic spacecraft tested in December 2020 failed because of an engine malfunction.
After that, Virgil Galactic Holdings (SPCE) had to postpone the testing because of technical issues. The company initially planned to launch SpaceShipTwo in February 2021 but announced it would give itself more time to perform necessary tests a day before launch. After conducting three more test flights, Virgin Galactic will launch its first commercial flight.”