Just recently, the prices of the shares for Virgin Galactic experienced a surge and then experienced a pullback. The data shows that this happened on Friday, July 2, 2021, as the shares for Virgin Galactic went up and came down on the same day.
The prices of the Virgin Galactic faced a pullback as Sir Richard Branson made an announcement revealing he will be boarding the next spaceflight test.
The details for the upcoming test are that there were bill two pilots guiding the spacecraft for the mission. The name of the particular spacecraft is VSS Unity and will have Branson accompanying the pilots. In addition to the pilots and Branson, three more employees from Virgin Galactic would be boarding the spacecraft.
The initial announcement made by Sir Richard Branson was that the spaceflight mission is going to take place on July 11, 2021. Branson also confirmed that the spacecraft would launch from New Mexico, which is the operations hub for the company at Spaceport America.
The mission announcement by Branson holds very high importance for the company as well as for Branson. For Branson, it was always a dream to commercialize space travel, and he had been planning for it for a long time.
On top of that, Branson will also be able to beat his rival billionaire Jeff Bezos, who is also going to board a space mission on July 20, through his space company “Blue Origin”.
Sir Richard Branson and Jeff Bezos are not the only billionaires that have been contributing to technological advancements in space missions. Elon Musk is also in the same league and Musk even started this endeavor before the other two billionaires.
However, Elon Musk had announced that he was going to board a space mission himself through SpaceX but it was going to happen by 2022 or 2023.
As a result of developments for Virgin Galactic, the share prices for the company jumped by 25% and then experienced a downfall. The data shows that by the end of Friday, July 2, the share prices had experienced a 20% drop, coming down to 4% growth on the same day.
In general, the share prices for Virgin Galactic have doubled as they went all the way up to $60 per share in the month of February. Then, in the month of May, the share prices for Virgin Galactic experienced an all-year low, going down to $15.
Since May, the share prices for Virgin Galactic have rebounded and at the time of writing, their share price is $44.94 per share. According to Branson, their aim is to launch the first commercial flight in early 2022.