Previous close | 4.0300 |
Open | 3.9600 |
Bid | 4.0800 x 3000 |
Ask | 4.1500 x 1100 |
Day's range | 3.9281 - 4.1270 |
52-week range | 3.2450 - 11.2500 |
Volume | |
Avg. volume | 10,023,416 |
Market cap | 1.149B |
Beta (5Y monthly) | 1.43 |
PE ratio (TTM) | N/A |
EPS (TTM) | -1.8600 |
Earnings date | 03 May 2023 - 08 May 2023 |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | 4.68 |
Virgin Galactic didn't enter the public markets the normal way, with an initial public offering (IPO). It was bought by a special purpose acquisition corporation, or SPAC, in late 2019. A SPAC has already issued shares to the public and is sitting on a pile of cash that has been entrusted to management for future investment.
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Investors became enamored with space economy stocks during the COVID-19 market bubble, specifically from special purpose acquisition company (SPAC) mergers. One of the leading bubble stocks was Virgin Galactic (NYSE: SPCE), a space flight company that is trying to build a tourism business by charging hundreds of thousands of dollars to take trips into low orbit. Virgin Galactic has fallen 90% from its highs during the COVID-19 SPAC frenzy but is still one of the most popular stocks on Robinhood.