Why Virgin Galactic Stock Rocketed Higher Today
Shares of space tourism pioneer Virgin Galactic (NYSE: SPCE) rose a respectable 4.2% through 1:20 p.m. ET on Tuesday after an Ars Technica interview with Virgin Galactic President Mike Moses this morning.
In a wide-ranging interview, Ars writer Eric Berger noted that Virgin Galactic has just announced plans to launch its fourth spaceplane flight in four months, with Sept. 8 as the potential launch date. This demonstrates that Virgin Galactic is so far on track to fulfill its promise to maintain a once-a-month launch cadence -- not frequent enough to turn the company profitable, admittedly, but frequent enough to show that Virgin Galactic is keeping its promises.
Moses also confirmed its belief that its VSS Unity spaceplane should be able to fly 500 to 1,000 times over a 10-year lifespan, and that the company's new family of "Delta-class" ships should be similarly robust and able to fly even more frequently due to design changes that make it easier to service.
Source Fool.com
