Virgin Galactic Lands on Wall St.
Listed on the NYSE
Virgin Galactic is the first space tourism company to land on Wall Street. It's listed on the NYSE as SPCE. It began trading on Monday and right out of the launch pad it soared up 5% at its debut. It has a market cap of $1 billion. This underscores the interest of investors and the public in space tourism. On Tuesday, the stock hit a little choppy air and as of 3PM Eastern Time is trading in the day range of $12.51 - $10.50. Founder Sir Richard Branson and Virgin Galactic CEO George Whiteside were on hand to ring the First Trade Bell on Monday to commemorate the occasion. Sir Richard commented: "Now anyone can invest in the future of space".
Space Tourism Plans
Virgin Galactic has intergalactic plans. It first wants to offer space flights to six passengers at a time for $250,000 each for trips to the weightless outskirts of space. Trips begin in the summer of 2020. More than 600 have signed up for the space tourism journey. Branson joins fellow billionaires including Amazon founder Jeff Bezos and his Blue Origin and Tesla founder Elon Musk and his SpaceX in the entrepreneurial competition to bring the public to space, to explore planets and to commercialize and develop these new space frontiers.