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2021-07-12

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Here's what Branson's successful space trip means for Virgin Galactic shares

Virgin Galactic’s successful launch of its billionaire founder into space Sunday was greeted with a

Here's what Branson's successful space trip means for Virgin Galactic shares

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's what Branson's successful space trip means for Virgin Galactic shares\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 22:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/heres-what-bransons-successful-space-trip-means-for-virgin-galactic-shares.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Virgin Galactic’s successful launch of its billionaire founder into space Sunday was greeted with a cautious reaction by the stock market.\nShares of the space exploration companyfell Monday morning, ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/heres-what-bransons-successful-space-trip-means-for-virgin-galactic-shares.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/07/12/heres-what-bransons-successful-space-trip-means-for-virgin-galactic-shares.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1146612983","content_text":"Virgin Galactic’s successful launch of its billionaire founder into space Sunday was greeted with a cautious reaction by the stock market.\nShares of the space exploration companyfell Monday morning, as the company announced that it would sell up to $500 million in additional shares to help fund its growth after the flight.\nWall Street analysts viewed the flight as a positive for the stock, but it didn’t appear to be enough to change the minds of some of Virgin Galactic’s skeptics.\nHere’s what some of the top analysts had to say.\nBernstein’s Douglas Harned, who has a market perform rating on the stock, said in a note that the flight was “symbolically important for building consumer confidence in and demand for space tourism” and could create a short-term boost for the stock.\n“We expect a large amount of media coverage and publicity around space tourism over the next few weeks, coupled with potential new ticket sales for Virgin Galactic and Blue Origin. The flight’s success and subsequent ticket sales could well be an upward short-term catalyst for the stock,” the Bernstein note said.\nTruist’s Michael Ciarmoli, who has a buy rating on the stock, said the flight was a major step for the company.\n“We view the successful completion of the VSS Unity’s latest test flight on July 11, with a full crew including Richard Branson on board, as another significant milestone for the company both from an operational and marketing perspective,” the Truist note said.\nOn the other hand, Bank of America said that the flight confirmed that Virgin Galactic was on track with its plan to bring customers into space but that it wasn’t enough to move the firm from its underperform rating.\n“We believe the current valuation more than reflects the underlying financial fundamentals and gives the company a more than healthy multiple premium for potential growth,” the note said.\nAfter the flight returned to earth, Virgin Galactic announced that it would hold a sweepstakes for two tickets for upcoming voyages but did not open ticket sales.\nCanaccord Genuity’s Ken Herbert, which has a buy rating on the stock, said that was a sour note for the day.\n“While Branson did accompany his return to Earth with an extensive press conference and marketing blitz featuring a musical performance by R&B star Khalid and a pinning of astronaut wings by Canadian astronaut Chris Hadfield, his teased ‘major announcement’ was somewhat disappointing,” the note said.\nShares of Virgin Galactic have been extremely volatile this year, having more than tripled over the last two months, but still traded below their peak from February.","news_type":1},"isVote":1,"tweetType":1,"viewCount":39,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

Here's what Branson's successful space trip means for Virgin Galactic shares

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