Virgin Galactic's recent successful flight from a spaceport in New Mexico still has a positive effect on the company's shares. The spacecraft, named VSS Unity, with two astronauts on board accelerated to more than three times the speed of sound, reaching an altitude of slightly above 55 miles. Virgin Galactic shares soared as a rocket as well.
Immediately after the announcement about a successful spaceflight, the company’s assets surged by a record 35%. The hype surrounding Virgin Galactic is still ongoing.
"The flight showcased the inherent elegance and safety of our spaceflight system, while marking a major step forward for both Virgin Galactic and human spaceflight in New Mexico. Space travel is a bold and adventurous endeavor, and I am incredibly proud of our talented team for making the dream of private space travel a reality. We will immediately begin processing the data gained from this successful test flight, and we look forward to sharing news on our next planned milestone,"
Virgin Galactic CEO Michael Colglazier said.
However, despite the recent spike in price, Virgin Galactic shares are still 50% below their all-time high. Investors now await the release date of the next spaceflight as well as the company’s annual report, which is due next year. Virgin Galactic is expected to disclose its first significant earnings.
