what happened
Shares of Virgin Galactic Holdings (NYSE: SPCE), which exploded higher against the promise of a test flight on Monday, falls back to earth today – with 4.9% lower than 11:45 EST.
The reason: Virgin Galactic is rapidly facing greater competition in the space sector.
Image Source: Getty Images.
Approximately
Virgin Galactic, which during its IPO presentation in 2019 was celebrated as ‘the world’s first and only listed commercial human space company’, technically still holds the title, but the distinctions are starting to pile up. Over the past few months, we’ve been promising that the first “space travel” company, Stable road accesssay (NASDAQ: SRAC) Momentus, will be known. The announcement was followed shortly by the announcement of the first satellite-powered communications network for ordinary mobile phones: New supply procurementsay (NASDAQ: NVG) AST SpaceMobile.
Today, a fourth potential pure-play space inventory emerged when the company achieved a special purpose Holicity (NASDAQ: HOL) announced that it would bring the small rocket business Astra public through a reverse merger.
Now what
Stable Road, New Providence and Holicity have yet to finalize their mergers. This means that Momentus, SpaceMobile and Astra do not yet have to officially list.
But it’s clear that momentum is moving in this direction, and the days when Virgin Galactic founder Sir Richard Branson can boast that buying Virgin shares is the best way to immerse himself a bit in a spaceship company, ‘ to own a small little spaceship company. “” comes to an end soon. Investors may one day stop investing in space for the novelty factor, and will have to start weighing their income and profits – and price – to determine which space stock is the best bargain.
Whether Virgin Galactic will remain the best dog in that kind of game remains to be seen.