Virgin Galactic Holdings has dropped 15% today and will likely get price corrected even more because of coronavirus. It is on a bubble and its next price target is $25. Virgin Galactic's whole idea is to take people to space, and around 8000 people have signed up, each at $300000 for a trip. Their rockets, however, can only take 6 people per trip, and as it costs a lot to go to space, will likely lose money on this front. To me, Virgin Galactic does not make sense as it would only be the richest of the rich going, and they could just buy their own rocket. Overall, I think SPCE is going to drop to at least $25, if not way lower. I hope it gets price corrected to around $10-12 where it belongs.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.