SPCE Stock Price and News: Virgin Galactic Holdings Inc flies as investors see past the pandemic


  • NYSE: SPCE is on course to end the week on a higher note despite an early fall. 
  • Virgin Galactic Holdings Inc seems to shrug off the test flight cancellation in New Mexico.
  • Markets are awash with cash that should bring rich customers to Virgin's space tourism venture.

There are no known cases of COVID--19 in outer space – but the virus has had an adverse impact on a tourism sector company aiming for the skies. Virgin Galactic Holdings Inc (NYSE: SPCE) has been forced to cancel a critical test flight. Authorities in New Mexico, where the module was set to launch from, canceled the trial due to the covid situation in the state. 

Billionaire founder Richard Branson and his team were disappointed by calling off and even made it public via Twitter. Any delay means the company continues bleeding money. Shares reacted accordingly with a drop, but it turned around later on. 

Shares bounced as bargain-seekers came in and probably as investors remembered the Branson has deep pockets. Moreover, it is essential to stress that the disappointment in New Mexico is only a delay – and unrelated to the company's performance

Yet perhaps most importantly, the world is currently awash with cash – coming from monetary and fiscal stimulus. There may be new millionaires and billionaires making money in equity markets that could potentially sign up for Virgin space flights. 

Moreover, while covid caused the recent cancelation, progress on vaccines is accelerating. Pfizer (NYSE: PFE) and BioNTech are set to submit an emergency application to use their vaccine as soon as Friday. Moderna (NASDAQ: MRNA) also reported outstanding results from its Phase 3 trial and other companies to have promising immunization schemes in the pipeline. 

Once the pandemic is over, the money sloshing around the world is unlikely to be drained out and could reenergize tourism – including Virgin's orbital flights. 

See Covid Vaccine: Pfizer's success promising for three other efforts, rally may have only just begun

SPCE stock forecast

NYSE: SPCE is set to rise by 1.75% according to Friday's premarket data at the time of writing. That would complete an increase of nearly 20% from Monday's closing low of $20.89. Virgin Galactic's shares are now at the highest since early August. The next upside target is $25.54 seen in July. The 52-week high is $42.49. Support is at $20.89, followed by $18. 

More When the market shivers, the Fed delivers? Where next for markets

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD stays vulnerable toward 0.6200 ahead of US PCE data

AUD/USD stays vulnerable toward 0.6200 ahead of US PCE data

AUD/USD sits at monthly lows, eyeing 0.6200 early Friday. Traders remain risk averse amid US tariff threats, underpinning the safe-haven US Dollar and dragging the pair lower.  All eyes now remain on the US PCE inflation data for fresh trading impulse. 

AUD/USD News
USD/JPY holds sizeable losses near 149.50 amid risk aversion

USD/JPY holds sizeable losses near 149.50 amid risk aversion

USD/JPY remains under intense selling pressure to trades near 149.50 in Friday's Asian trading. Despite dismal Tokyo CPI and Japan's Retail Trade data, the Japanese Yen stands resilient due to risk aversion. The US Treasury bond yields sell-off weighs heavily on the pair ahead of US PCE data. 

USD/JPY News
Gold breaches key $2,890 support ahead of US PCE inflation data

Gold breaches key $2,890 support ahead of US PCE inflation data

Gold price struggles near two-week lows below $2,900 in Friday’s Asian trading hours, looking to snap its eight consecutive weekly gains. Traders weigh the latest tariff threats from US President Donald Trump and the sharp decline in the American artificial intelligence leader Nvidia's share price.

Gold News
Ripple's XRP sees further decline as short-term holders take profits, whales buy the dip

Ripple's XRP sees further decline as short-term holders take profits, whales buy the dip

Ripple's XRP is down 4% on Thursday as it struggles near the support at $2.12. Whales have been accumulating the recent selling pressure from short-term holders following the recent crypto market crash.

Read more
February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

Inflation has probably eased in February, particularly in France due to the marked cut in the regulated electricity price. However, this overall movement masks divergent trends. Although disinflation is becoming more widespread, prices continue to rise rapidly in services, in France as well as elsewhere in the Eurozone.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025