Why Virgin Galactic Stock Jumped 5% This Morning

·2-min read
Why Virgin Galactic Stock Jumped 5% This Morning

Shares of Virgin Galactic Holdings (NYSE: SPCE) jumped 5.2% as of 11:35 a.m. EDT Monday morning, and it's not hard to figure out why investors are so excited. Over the weekend, rival space tourism start-up Blue Origin held its live auction for the sale of the very first space tourism passenger ticket on its New Shepard rocket, which is scheduled to launch from Van Horn, Texas, on the 52nd anniversary of the Apollo 11 moon launch -- July 20, 2021. Now to put that in context, when Dennis Tito became the first private citizen "space tourist," riding a Russian rocket to spend eight days at the International Space Station in 2001, the cost of his trip was reported to be just $20 million.

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