SPCE Stock Rockets; Virgin Galactic Set To Begin Regular Flights This Month| Investor’s Business Daily

Space tourism company Virgin Galactic plans to launch its first commercial spaceflights at the end of this month, the company announced Thursday. SPCE stock bolted 16.5% Friday after shares rocketed 44% premarket following the news.

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The first spaceflight, dubbed Galactic 01, is scheduled for June 27 to June 30. The scientific research mission will carry scientific payloads and three crew members from the Italian Air Force and the National Research Council of Italy to conduct microgravity research.

Galactic 02 will launch in early August and carry private astronauts. Monthly commercial spaceflights are planned thereafter, the company said.

Virgin Galactic completed its final test flight on May 25. The company was founded by billionaire Richard Branson in 2004 and has a backlog of 800 passengers queued for flights, CNBC reported. The June launch will mark a major milestone toward its goal of flying regular commercial spaceflights.

SPCE Stock

SPCE stock leapt 16.5% to 4.73 Friday after rocketing nearly 44% premarket following the news. On Thursday, Virgin Galactic stock tumbled 7.7% prior to the late announcement.

Shares remain well below their 52-week high of 8.25 from August. SPCE stock is trading at a fraction of its all-time high of 62.80 from February 2021. Still, SPCE stock has soared nearly 36% so far this year.

You can follow Harrison Miller for more stock news and updates on Twitter @IBD_Harrison.

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