Virgin Galactic shares surge 11.34% and outperform competitors
Updated
Updated · MarketWatch · May 1
Virgin Galactic shares surge 11.34% and outperform competitors
16 articles · Updated · MarketWatch · May 1
The stock closed at $2.65 on Friday, its second straight gain, as Nasdaq rose 0.89% while the Dow fell 0.31% in a mixed US session.
Virgin Galactic beat aerospace peers RTX, Boeing and Lockheed Martin, all of which declined, while trading volume jumped to 12.2 million shares from a 50-day average of 5.9 million.
Even after the rally, the shares remain 60.09% below their 52-week high of $6.64 reached on 16 May, underscoring how far the stock is from its recent peak.
With its stock soaring but cash dwindling, can Virgin Galactic's high-stakes gamble pay off before the company runs out of financial fuel?
With tickets at $750,000, is space tourism a sustainable business or just a fleeting novelty for the world's wealthiest adventurers?