Why Good News for SpaceX Is Bad News for Virgin Galactic Stock Today

Rich Smith, The Motley Fool
·2-min read
Why Good News for SpaceX Is Bad News for Virgin Galactic Stock Today

The third time was the charm for SpaceX last night. Right now, Virgin Galactic's business model is predicated upon the idea that it can sell trips to the edge of space, a few minutes of weightlessness, and then a return to Earth -- probably all in the space of less than an hour -- for $250,000 a pop, carrying six customers per flight. Give credit where credit is due: This is an amazing promise Virgin Galactic is making, and it's a once-in-a-lifetime and a first-time-in-history offer to bring space tourism to the (well-heeled) masses.