The Stock Prices for Virgin Galactic Just Shot Up

There was a time when it was considered impossible for one to travel to space even with the backing of the government. Then the world stepped into the 1960s and things changed forever for the entire world. First, it was Russia that stepped out of the earth, and soon, the United States followed and took it further by setting foot on the moon.

Since then, the space sector has been making groundbreaking progress and has gone on to carry out many discoveries in space.

Even in the early 2000s, space programs and expeditions were something that was backed by the governments of a particular country. With the passage of time, several private companies have emerged that have started offering their own services.

Projects such as SpaceX have been founded by Elon Musk, which is a private company. The company has carried out several space missions, taking several flights to outer space delivering satellites for private companies.

Just recently, SpaceX has signed up a deal with NASA for its upcoming missions. SpaceX will be taking satellites for NASA as according to NASA, it would be much cheaper doing it through a private space company.

Then there was Blue Origin, a space program launched by Amazon that is headed by the richest man in the world, Jeff Bezos. Jeff Bezos will soon be boarding a rocket that is going to take him out of space and even sold a seat next to him for around $26 million.

After that, there is Virgin Galactic is also making a lot of progress in the space sector. Just recently, Virgin Galactic made a huge announcement in regards to getting approval from the Federal Aviation Administration (FAA). This means that the company now has the license to take local passengers for spaceflights.

Acquiring approval from the FAA was one of the biggest obstacles Virgin Galactic had for making spaceflights possible for commoners. With the FAA giving the license to Virgin Galactic and the company being able to take passengers to space, its share prices are bound to experience a surge.

The company will now be able to launch flights commercially out in the space and the common people will be able to board these flights, given they can afford them.

Michael Colglazier, who is the CEO of Virgin Galactic is extremely ecstatic about the approval and determined to take space traveling to an entirely different level.

As expected, ever since Virgin Galactic’s announcement of receiving the FAA license, its stock prices have shot up 38.9%. At the end of Friday, June 25, 2021, the stock price for Virgin Galactic experienced an all-time high of $55.91 since February 2021. It was back in February 2021 when Virgin Galactic’s share prices went above $60 before plummeting down to $15.