Why Shares of Virgin Galactic Are Higher Today
Shares of Virgin Galactic Holdings (NYSE: SPCE) rocketed 20% higher on Monday morning after the stock received a pair of upgrades. The sky's the limit for space tourism, according to two Wall Street banks, causing investors to climb aboard Virgin Galactic.
Virgin Galactic is a pre-revenue company that aims to sell tourists a brief trip into space for upward of $250,000 apiece. The company has a backlog of deposits and lots of potential, but is still very much a speculative venture.
Analysts at Susquehanna and Bank of America view the glass as half-full when it comes to Virgin Galactic. Susquehanna analyst Charles Minervino on Monday assigned a positive rating on the stock, calling the company "an innovator of space technology" that will be able to tap into interest in space tourism.
Source Fool.com
