Virgin Galactic Holdings Inc. (SPCE) is the Richard Branson-founded American space tourism company directly competing with Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin.
But what sets SPCE apart from the other titans in the industry is its potential for hypersonic point-to-point travel.
Through the company’s technology, it could potentially carry passengers vast distances around the world in a fraction of the time a traditional plane does.
And while SPCE announced that it would reschedule its Unity 23 test flight, its high-speed technology has many bullish about the company’s long-term prospects.
That’s why investment advisory Jefferies initiated SPCE shares with a “buy” rating in late-August. It’s also why Citadel Investment has invested $209 million in the company.
SPCE is also partnered with Boeing (BA), which manufactures jets and other technology for the commercial and private sectors.
This could suggest that while the company is still looking to achieve profitability, institutional investors – as well as major players in the aerospace sector – are confident in SPCE’s spaceflight technology.
As a result, the company may shake off short-term headwinds, enabling it to grow its share value in the months and years ahead.
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