Why Virgin Galactic Stock Popped This Morning
Once upon a time -- a little over a year ago -- Virgin Galactic Holdings (NYSE: SPCE) founder Sir Richard Branson decided to take his space tourism company public in a SPAC-sponsored IPO.
His reason: to give investors a chance to "dabble a little bit in a spaceship company, own a little bit of a spaceship company." Lucky for him, the public interest in space as a sector for investment was just picking up, and the idea proved very popular indeed. Virgin Galactic stock is now up five times in less than one year as a result -- including a 5.2% gain through 10:30 a.m. EST this morning.
Image source: NASA.
Source Fool.com
