(NEW YORK)–Virgin Galactic (NASDAQ: SPCE) saw its stock drop after announcing a second-quarter loss Monday, which may offer longer-term investors a window to get in on this emerging space tourism play.
The Company said they expect their first commercial flight of its space plane to occur in Q1 2021, which was bit longer then some investors had anticipated.
But don’t abort on this stock just yet. The company expects its first powered test flights this fall, following two successful glide tests of SpaceShipTwo, with two test pilots in the cockpit. The first powered test flight will contain NASA payloads.
A second powered test flight will follow with a crew of two test pilots in the cockpit and four mission specialists in the cabin. The primary objective of the second powered flight will be to evaluate the full customer cabin and hardware, as well as procedures and training details
New Supersonic Aircraft
Earlier Monday, Virgin Galactic also signed a memorandum of understanding with Rolls-Royce to collaborate in designing and developing engine propulsion technology for Mach 3 commercial aircraft, which also built the engines for the Concorde.
Virgin Galactic’s supersonic jet would fly at an altitude above 60,000 feet and go from NYC to London in 2 hours, shattering Concorde record
So, for investors looking to partake in the emerging space travel and International supersonic travel industry SPCE stock may offer a great long-term opportunity down below the $20 price range.
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About Virgin Galactic Holdings
Virgin Galactic Holdings, Inc., (NASDAQ:SPCE) an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company’s spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space. In addition, it engages in the design and development, manufacturing, ground and flight testing, and post-flight maintenance of spaceflight vehicles. Virgin Galactic Holdings, Inc. was founded in 2017 and is headquartered in Las Cruces, New Mexico. www.virgingalactic.com