Virgic Galactic (SPCE) Claims victory in the billionaire space race after flying t space on Sunday

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  • Richard Branson, the 70-year-old founder of Virgin Galactic (NYSE:SPCE), rode the VSS Unity into space on Sunday morning. With him there was a 17-year old quest and Branson told him before unlatching his seat belt “For the next generation of dreamers, if we can do this, just imagine what you can do,”.
 
  •  Branson can now claim victory in the “billionaire space race” by riding his own spacecraft.
 
  • On July 20th  Blue Origin’s (BORGN) Jeff Bezos will take his own ride to space next week, while Elon Musk has been in a class of his own by concentrating on the orbital arena and beyond via SpaceX (SPACE).
 
  • “There’s room for 20 space companies to take people up there,” Branson said in recent interview. “The more spaceships we can build, the more we can bring the price down and the more we’ll be able to satisfy demand and that will happen over the years to come.”
 
  • The shares of the stock are up 10% in the pre-market hours valuing the stock at $54 per share. Galactic was among the recent generation of space companies to go public via a SPAC in 2019, but it hasn’t stopped there. Over the past two months, rocket builder Astra Space (NASDAQ:ASTR) and satellite broadband firm AST SpaceMobile (NASDAQ:ASTS) have begun trading, while companies like Rocket Lab, BlackSky, Spire Global and Momentus are expected to follow.

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