Virgin Galactic (NYSE:SPCE) became the first space tourism company to be publicly traded on the New York Stock Exchange Monday, October 28, following the completion of a merger with holding company Social Capital Hedosophia (SCH). The total SCH investment of $800 million adds to the $1 billion already invested in Virgin Galactic since it was founded in 2004 by Sir Richard Branson.
After SCH Merger, Virgin Galactic Begins Trading on NYSE
Key Takeaways:
- Virgin Galactic (SPCE) became the first space tourism company to be publicly traded on the NYSE, completing an $800 million merger with Social Capital Hedosophia.
- The stock debuted at $11.49, closing nearly flat at $11.75 despite heavy trading volume, indicating investor interest without an immediate price surge.
- Despite having only two crewed spaceflights (one fatal), Virgin Galactic has secured over 600 customer reservations and aims to conduct 270 commercial space trips by 2023.
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