|Bid||4.8100 x 3100|
|Ask||4.8500 x 2200|
|Day's Range||4.7900 - 4.9900|
|52 Week Range||4.6800 - 24.3200|
|Beta (5Y Monthly)||1.18|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 07, 2022 - Nov 11, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.20|
Stocks that generate 100x returns don't come around often, but when they do they can provide outsized returns for any portfolio. One stock that I think has 100x potential is Virgin Galactic (NYSE: SPCE), the space tourism company that's had trouble getting off the ground as a public company.
Don't look now, but Blue Origin just had another "anomaly" -- and the future for investing in space tourism just got a little bit less certain. On Monday, Sept. 12, an unmanned New Shepard rocket operated by Blue Origin -- the space tourism venture established by Amazon founder Jeff Bezos -- suffered a booster failure about a minute after launch. The good news is that the rocket's escape capsule operated as designed, boosting away from the rocket core and then parachuting back down to Earth.
Striking a discordant note from the market's enthusiasm today is space tourism pioneer Virgin Galactic (NYSE: SPCE), shares of which are falling 5.2% in response to a big downgrade to "underperform" from analysts at investment bank Bernstein. As StreetInsider explains today, Bernstein just cut Virgin Galactic one notch to the equivalent of a sell rating and cut its price target on the shares to $4, implying roughly 33% downside in the stock. "We now have less confidence in the success of this business," states Bernstein bluntly, criticizing Virgin Galactic for continually pushing back plans to begin commercial space tourism flights, and warning that with paying flights not expected to begin before the second quarter of 2023 at the earliest, there is now only "limited potential for positive near-term catalysts."