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Virgin Galactic was listed on the New York stock exchange

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Wednesday 10/30/19 time 12:33 PM


Virgin Galactic was listed on the New York (NYSE) stock exchange on October 28, 2019. Former Facebook CEO, Chamath Palihapitiyan, invested $ 800 million in Virgin Galactic and got a 49% stake in the company. The company has a market capitalization of approximately $ 3.2 billion. One share (SPEC, Virgin Galactic Holdings Inc.) costs about $ 12. So now you can buy a stake in a company that aims to send ordinary people into space.

Virgin Galactic was founded by Richard Branson in 2004, and the first tickets to space were sold in 2005. Currently, around 600 persons have purchased tickets from 60 different countries. If you buy a space ticket now it costs $ 250,000.

Virgin Galactic has been loss-making for years, but as space flights will start then also profit will come. In 2020, Virgin Galactic plans to make 16 commercial flights to space and generate $ 31 million in revenue. In 2020, the company will still make a loss of about $ 100 million, in 2021 there will be no loss or profit, and by 2023 the profit should reach $ 274 million. To achieve this goal, 2023 Virgin needs to have 5 rockets which can be launched into space. In other words, no dividend is coming in the next years, but after 2023 the dividend may come.

You cannot list a company on the stock exchange unless you are serious. Now Virgin is serious and everyone has the opportunity to buy their stake in Virgin Galactic. I will buy at least 10 shares myself. What if stock owners get a discount on space travel in the future!

More information:

Space.com

Spacenews


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