Virgin Galactic expects commercial service to begin in Q2

solarseven

Virgin Galactic (NYSE:SPCE) announced that planned upgrades of VMS Eve are complete and the mothership is expected to enter ground tests next week before commencing flight tests to verify the enhancements to the ship.

The company said commercial service remains on track to begin in Q2 of this year. That would mean 2023 could be the year that revenue becomes more meaningful for SPCE.

In an organizational change, Virgin Galactic (SPCE) said Swami Iyer, President of Aerospace Systems, is departing from his position.

Shares of Virgin Galactic (SPCE) rallied 7.46% on Thursday and are up more than 32% for the early part of the year. The spaceflight stock still traded below its 50-day, 100-day, and 200-day moving averages.

Read a breakdown of why Seeking Alpha author The Value Pendulum has a Hold rating on Virgin Galactic.

Comments

[Simeroth1]

Over 5 again. Good, can short it now

[HJ2255]

@Simeroth1 Have a nice trip.

[Chefboy6969]

i could name 5 better space stocks. LMT, AJRD, NOC(Orbital ATK), GD, and for fun LDOS

[MktInvestor]

@Chefboy6969 How 'bout SIDU, GSAT, ASTR, and MAXR?

[chadugoe]

The taxpayers of New Mexico footed the bill to build Spaceport America in large part to accommodate Sir Richard. We have been seeing this same news release every six months since 2011 when he was originally going to be operational. All hat and no cattle is how Virgin Galactic is described around here.

[jerseyvalueinvestor]

@chadugoe in 5 months we will see if you are correct, or if the cattle have arrived :)

[Lord Gekko]

anyone want my bag at $25 ?

[pinadormaximo]

@Lord Gekko i was lucky enough to get in at 3.50$ with 980 shares, will hold this baby until 50$ when Q2 comes, probably could hit that earlier. Aftermarket is now jumping over 18% and just on news...

[Lord Gekko]

@pinadormaximo no chance it reaches that price by Q2

2021 was fantasy land

[JohnVB]

@Lord Gekko Unless this becomes a meme stock like days of old. You never know. It does have 20% short interest. I am sitting on fence with this one.

[pinadormaximo]

at the current price it is a bargain for what it can be next months, every recent flight test popped the stock to 55$, so aside that, just imagine where will it go to when commercial activity in Q2 starts....

[danny6]

@pinadormaximo Yeah, it may reach $7.25/share.............

[pinadormaximo]

@danny6 that next week or probably tomorrow, by Q2 should be hitting 30-40$ if all goes well, anyways don't worry, ill be back here to tell you how you got ROASTED ;)

[Simeroth1]

@pinadormaximo Q2 of which century though?