Virgin Galactic Plans to Sell $500M in Stock; Shares Fall 17%

Business

Yahoo Finance 13 July, 2021 - 05:20am 22 views

When is Richard Branson space flight?

Musk has a ticket for a future flight on a Virgin Galactic trip. Billionaire entrepreneur Richard Branson prepares to spray champagne after flying with a crew in Virgin Galactic's passenger rocket plane VSS Unity to the edge of space at Spaceport America near Truth or Consequences, New Mexico, U.S., July 11, 2021. CNBCNASA chief says Richard Branson's flight was a great milestone in human space exploration

Who flew with Richard Branson?

Two pilots, Dave Mackay and Mike Masucci, flew the vehicle. The late physicist Stephen Hawking gave the space plane its name, "VSS Unity." The plane was secured to the bottom of a mothership, a double-fuselage aircraft called "VMS Eve," after Branson's mother. Business InsiderVirgin Galactic just flew billionaire founder Richard Branson and 3 crewmates to the edge of space

Who are the astronauts on Virgin Galactic?

Who were the crew members aboard the flight? The pilots are David Mackay and Michael Masucci. In addition to Mr. Branson, three Virgin Galactic employees joined the flight to evaluate how the experience will be for future paying customers. The New York TimesHighlights From Richard Branson’s Virgin Galactic Flight

Where is Richard Branson taking off from?

Branson, three crewmates and two pilots launched on the historic flight after being carried into launch position by Virgin Galactic's carrier plane VMS Eve. They will take off from the company's homeport of Spaceport America in New Mexico, with a live webcast chronicling the flight. Space.comVirgin Galactic's SpaceShipTwo Unity 22 launch with Richard Branson. See video and photos of the flight.

The agents are entitled to commission at a mutually agreed rate that will not exceed 2% of the gross sales price. (See Virgin Galactic stock charts on TipRanks)

Virgin Galactic Holdings intends to use net proceeds from the offering for working capital, general, and administrative purposes. Part of the funds will also go towards financing the development of the company’s spaceship fleet, among other infrastructure developments.

Yesterday, BofA Securities analyst Ronald Epstein reiterated a Sell rating on the stock with a $41 price target. This implies that shares are fully priced at current levels. The sell rating comes just after the company moved a step closer to start carrying paying commercial passengers into space.

While Virgin Galactic has not announced when it intends to begin the commercial service, the analyst expects the program to begin in the first half of next year as the company hopes to complete another two suborbital test flights by fall 2021.

Epstein stated, “We see the risk reward as more skewed to the downside given our probability weighted base, bull and bear cases. Further, we believe the current valuation more than reflects the underlying financial fundamentals and gives the company a more than healthy multiple premium for potential growth.”

Consensus among analysts is a Moderate Buy based on 4 Buys, 6 Holds, and 1 Sell. The average Virgin Galactic price target of $36.90 implies 9.31% downside potential to current levels.

SPCE scores a 7 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.

After Dr. Ifeanyi Nsofor and his wife received two doses of AstraZeneca's coronavirus vaccine in Nigeria, they assumed they would be free to travel this summer to a European destination of their choice. The couple — and millions of other people vaccinated through a U.N.-backed effort — could find themselves barred from entering many European and other countries because those nations don't recognize the Indian-made version of the vaccine for travel. Although AstraZeneca vaccine produced in Europe has been authorized by the continent’s drug regulatory agency, the same shot manufactured in India hasn't been given the green light.

The report said that U.S. companies face threats including the Chinese government's ability to gain access to data that foreign companies store in Hong Kong. On Tuesday, the United States will update a warning that former President Donald Trump's administration issued on Xinjiang last year, FT said, adding that it will stress on the legal risks that companies face unless they ensure that their supply chains are not implicated in forced labour in Xinjiang. He said the rights of foreign investors in Hong Kong are clearly protected by Hong Kong's laws, including the Basic Law, its mini constitution.

Witnesses say thousands of Tigrayans are being detained and their businesses closed in cities across Ethiopia in a new wave of ethnic targeting by authorities over the eight-month conflict in the Tigray region. The detentions follow the dramatic turn in the war last month when resurgent Tigray forces marched into the regional capital, Mekele, as Ethiopian soldiers retreated and Ethiopia’s government announced a unilateral cease-fire. Meron Addis, a 32-year-old attorney who has raised money for food and other aid to people in Tigray and has been outspoken about the toll on civilians, told The Associated Press that two plainclothes police officers came to her home in the capital, Addis Ababa, on June 28 and accused her of storing weapons.

TOKYO (Reuters) -Japan will make additional donations of the AstraZeneca Plc COVID-19 vaccine to Taiwan and other Asian neighbours this week, Foreign Minister Toshimitsu Motegi said on Tuesday. Japan will ship out 1 million doses each to Indonesia, Taiwan and Vietnam on Thursday as part of bilateral deals with those governments, Motegi told reporters.

"We believe that these pieces of crunchy, juicy, delicious chicken will have guests question how they ever enjoyed chicken nuggets before this," a representative for Popeyes said

Samsung's Galaxy Unpacked line-up of folding phones, smartwatches and earbuds has been leaked.

Dozens of left-leaning organizations are asking Senate Majority Leader Chuck Schumer to schedule a new vote this month on Democrats' sweeping voting and elections bill, a top priority for the party that Republicans blocked from debate last month. In a letter sent to the New York Democrat on Monday, the groups urged him to once again bring the bill to the Senate floor. “The only thing standing in the way is the outdated and abused filibuster,” states the letter, which was signed by roughly 90 different groups, including the good-government group Common Cause, Our Revolution, the League of Conservation Voters, the Communications Workers of America union and MoveOn.

Goldman Sachs' results were boosted by a strong showing in investment banking.

The 60-minute trip to the edge of space adds credibility for the new industry. Will it give a further lift to Galactic stock?

(Bloomberg) -- Virgin Galactic Holdings Inc. filed to sell as much as $500 million in shares following a rocket-powered test flight by founder Richard Branson that won Wall Street praise as a “marketing coup.” The success of the hour-long mission to more than 50 miles (80 kilometers) above Earth boosted Virgin Galactic’s plan to start offering tourism trips next year. But the shares tumbled the most in almost seven months after the disclosure Monday of the potential stock sale, which suggested t

There's no mistaking the main attraction at MLB's All-Star festivities.

If these ultra-bullish analysts are correct, shareholders in these fast-growing companies could be looking at big gains over the next year.

Shares of SGOCO Group (NASDAQ: SGOC) were up as much as 196% Monday morning as retail investors piled into this penny stock. On Friday of last week, SGOCO Group stock went up 500% on no news or analyst reports. Historically, SGOCO Group's 10-day trading volume was much less than 1 million shares.

Much of the profit that investors in Sundial Growers (NASDAQ: SNDL) have made over the past year can likely be attributed to speculation and the stock becoming a popular buy on Reddit. Sundial Growers is an underdog in the sector due to its small size and low sales numbers. One of the most important things for investors to consider when looking at marijuana companies is the strength of their financials, and specifically cash.

With a 6.8% dividend yield, Canadian pipeline stock Enbridge (NYSE: ENB) offers an attractive opportunity for dividend investors. Its liquids operations account for a little more than half of its earnings, while natural gas and other midstream operations make up its remaining earnings. Enbridge's liquids pipelines are strategically located, providing it with resilient cash flows even in volatile energy markets.

On the surface, these companies seem like underpriced investments, but look a little closer and there's a good reason to stay away.

In this article we will take a look at the 15 best gold mining stocks to invest in. You can skip our detailed analysis of the mining industry’s outlook for 2021 and some of the major growth catalysts for mining stocks, and go directly to the 5 Best Gold Mining Stocks to Invest In. Gold […]

Read full article at Yahoo Finance

Business Stories

Top Stores