Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are soaring Tuesday on heavy trading volume. Here's a look at what's going on.
The Details:
Shares of Virgin Galactic Holdings are climbing higher Tuesday, despite a lack of company-specific news. The stock is currently one of the top trending tickers on Yahoo Finance and Stocktwits, indicating significant interest from retail traders.
Virgin Galactic shares are moving on heavy volume with more than 37 million shares already changing hands in Tuesday's session, according to data from Benzinga Pro. The stock has outsized short-interest with 22.63% of available shares being sold short which can lead to large price moves when combined with heavy trading volume.
announced the 'Galactic 07' flight window will open Saturday, June 8, 2024. This will be the Company's second spaceflight this year and 12th to date.
Virgin Galactic's next launch window opens on June 8 and VSS Unity craft will carry an Axiom Space-affiliated researcher astronaut to conduct multiple human-tended experiments. Virgin Galactic said this mission illustrates its ability to provide a flexible microgravity research platform, benefiting further space exploration initiatives as well as innovations on Earth.
Michael Colglazier, CEO of Virgin Galactic, confirmed in early May that the company remains on track for commercial service in 2026.
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How To Buy SPCE Stock:
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Virgin Galactic Holdings' case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
SPCE Price Action: According to Benzinga Pro, Virgin Galactic shares are up 20% at $1.03 at the time of publication Tuesday.
Image: T. Schneider from Shutterstock
