InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. “But I think this rally simply marks the beginning of a big breakout to new all-time highs.” “Shares of the commercial space tourism company have already doubled over the past two weeks, since the company’s successful May test flight,” he wrote.
That is evident in InvestorPlace analyst Luke Lango’s latest take on SPCE stock, which he said earlier this week, “finds itself at the epicenter of four huge trends in the market,” all of which have “staying power.” But good news is a tide that lifts all stocks. To be sure, any bad news hits hard, as Virgin Galactic investors have experienced over the past nine months. Not to be redistributed, copied, or modified in any way.Investors Gaining Confidence in Space Stocksĭespite the volatility in SPCE stock and HOL shares, investors appear to be gaining c onfidence in the promise of space tourism and commercialization. The company held a successful test last month.īlue Origin, which has so far been bankrolled entirely by funds raised by Bezos selling off his Amazon shares, has not announced any details on pricing for future trips-but said the “most competitive” bidders will be approached for interest in upcoming flights. “Watch this space.” the businessman wrote in a recent tweet. However, Blue Origin’s schedule has reportedly prompted a rush from Virgin Galactic, the competing space tourism company founded by Sir Richard Branson, to advance its plans. Jeffrey Preston Bezos (/ b e z o s / BAY-zohss né Jorgensen born January 12, 1964) is an American entrepreneur, media proprietor, and investor.He is the founder, executive chairman, and former president and CEO of Amazon, the worlds largest e-commerce and cloud computing company. If successful, the trip on New Shepard would be the first commercial space flight to take a civilian beyond the Kármán line, the internationally recognized edge of space, more than 60 miles (100 km) above Earth. All have been successful with the exception of the first, in April 2015, when the rocket suffered a crash landing, though the capsule returned to Earth safely. To date, 15 test flights of the New Shepard capsule have been undertaken. The greatest adventure, with my best friend.” “On July 20, I will take that journey with my brother. “Ever since I was five years old, I’ve dreamed of traveling to space,” Bezos said in an Instagram post last week. AdvertisementĪ spokesperson for the company declined to comment on whether the timing of Bezos’ transition to executive chair was related to his desire to take the trip, which will be the first by the company to include human passengers. The launch is scheduled to take place in Texas on July 20, 15 days after Bezos is due to step aside as Amazon chief executive.
The winning bid amount will be donated to Club for the Future, Blue Origin’s foundation focused on STEM education programs. The “fourth and final” passenger will be announced soon, the company said.Īt approximately 10 minutes from launch to landing, around three of which will be spent in zero gravity, the trip will cost the winning bidder more than $9 million per minute spent in space. Whoever it is will be traveling with three other passengers, including Bezos and his younger brother, Mark. The identity of the winning bidder has not yet been made public but will be revealed in the coming weeks, Blue Origin said. The price had stood at $4.8 million ahead of Saturday’s live auction, which was streamed online. The bidding process, which began in early May, drew offers from more than 7,000 participants from 159 countries, Blue Origin said. A ticket to take a brief trip to space with Amazon founder Jeff Bezos next month has been sold at auction for $28 million.
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