A couple days ago Virgin Galactic (SPCE) CEO George Whitesides revealed that there is a steady increase in demand for prospective space tourists.
In the past tickets have went on for sale for $250,000 per person which sold out and the CEO is looking to re-open ticket sales but may increase price substantially for the first commercial flights.
Every month the CEO receives messages that more and more people would like to fly and tour space so as a result George Whitesides is looking to reopen ticket sales.
On the news of this reopening Virgin Galactic shares rose 5% and closed at $12 yesterday. The company currently has 603 reservations with tickets priced at $250,000. That’s a total of $150,750,000 currently sitting in the business.
The company has successfully flew 2 people to space when conducting test flights. In the third quarter release, data shows that the company has received 3,557 expressions of interest in flight reservations.
With high demand the price is likely to increase, says Whitesides. Meanwhile, on Thursday the company outlines it’s plans for the year ahead.
Should you buy Virgin Galactic (SPCE)?
Virgin Galactic (SPCE) stock is trading at $12.73 as of 2:52 PM on Friday, Jan 10, a rise of $0.70, or 5.73% from the previous closing price of $12.05. The stock has traded between $12.33 and $12.89 so far today. Volume today is less active than usual. So far 5,120,000 shares have traded compared to average volume of 4,107,342 shares.
2 Analysts recommended the stock as a buy with a price point of $13.13.
