9.44 -0.09 (-0.94%)
Pre-Market: 7:52AM EST
|Bid||9.40 x 800|
|Ask||0.00 x 1000|
|Day's Range||9.51 - 9.69|
|52 Week Range||8.56 - 12.09|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Virgin Galactic reported its first results as a public company late Tuesday and announced more customers for its space tourism flights.
Virgin Galactic Holdings, Inc. , a vertically integrated aerospace company, today announced financial results for its third quarter of fiscal year 2019.
DEEP DIVE How often do you wish you could go back in time and make what now appears to be an “obvious” investment in a transformational company or industry? It seems perfectly clear now that smartphones would become ubiquitous and allow Apple to become the world’s most valuable publicly traded company.
Vertical Research initiated coverage of Virgin Galactic Holdings Inc. , the space company founded by British billionaire Richard Branson, with a buy rating on Tuesday, describing the stock as a "one-of-a-kind opportunity to invest in space tourism." Analyst Darryl Genovesi set a $20 price target for the stock, or about double its current price, arguing that the market is pricing in more risk than needed. "SPCE is the only means by which a public equity investor may gain pure-play exposure to human spaceflight, a socially-important endeavour, and the only means by which a public equity investor may gain ANY exposure to space tourism, creating scarcity value that we think can drive the stock higher as the risk-profile becomes better understood," the analyst wrote in a note to clients. The stock further offers the chance to invest in the high net worth consumer segment, which is growing fast, and a pioneering technology that resonates with the trend toward experiences over possessions, he wrote. For now, the stock is being held back by technical concerns -- fears the company has a high risk of failure -- but Genovesi believes it's overdone. "We think SPCE's mission profile is very similar to X-15's, which crashed only once in more (199) tries (Pcrash ~0.5%) and that was 50 YEARS AGO, meaning SPCE can likely do better," he wrote. The stock was down 5% on Tuesday, while the S&P 500 was down 0.1%. It started trading on Oct. 25, after merging with a blank-check company.
New York Court Orders Release of Trump Tax Returns A New York court ordered the release of 8 years of President Donald Trump’s tax returns. Don’t get too excited though, because Trump plans to appeal the decision to the US Supreme Court, where he appointed two of the Justices and where Republicans have a 5-4 […]The post Market Morning: Trump Tax Returns, Aramco IPO Confusion, Fall From Space, Uber Loss appeared first on Market Exclusive.
At least one segment of this week's episode of "Moneyline" might have you wondering if you're tuning into Matt McCall's cooking show. That's right, he's a foodie and an investing expert. With third-quarter earnings season well underway, he reviews two food stocks that completely flopped lately: Beyond Meat (NASDAQ:BYND) and Grubhub (NYSE:GRUB).You're probably aware that McCall isn't a fan of Beyond Meat or BYND stock. From a foodie perspective, tasty meatless sausages aren't enough to distract from an endless ingredient list. How can 40-plus ingredients be better for you than plain meat? From an investing perspective, his opinion is just as clear.After reporting earnings earlier this week, Beyond Meat stock dropped 20%. For McCall, that's far from a surprise. Increased meat-free competition from Tyson Foods (NYSE:TSN), Kellogg (NYSE:K) and Nestle (OTCMKTS:NSRGY) spells trouble for the recent IPO.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter the earnings flop, firms have been slashing their price targets, but it's a little too late. This once-loved food stock trades at a price-to-sales ratio of 21.7 and a forward price-to-earnings ratio of 267.4. That valuation doesn't bode well for the future, and McCall thinks the share price will continue to drop. * 7 Stocks to Buy in November Oh, and then there's Grubhub. On this food stock, McCall is a little more lenient. Heck, he admits that every once in a while he too enjoys ordering food with the click of a mobile app.But Grubhub is no longer the only player in this space. It faces competition from Uber's (NYSE:UBER) Uber Eats and Postmates. Although early on it was a stock for investors looking to play an emerging trend, competition is destroying GRUB. For now, these two food stocks are names to stay far away from. McCall's PodcastHow far? Well, why not space. Virgin Galactic (NYSE:SPCE) stock made its debut Oct. 28, making it the first publicly traded space exploration company. Virgin Galactic is one of famous entrepreneur Richard Branson's endeavors, and even after the SPCE IPO, Branson controls a 51% stake. But don't get your hopes up that you'll be visiting aliens anytime soon. Virgin Galactic has no plans -- at least yet -- to take customers to the moon or further. For now, you can buy a seat on a spaceship for the low price of $250,000. That chunk of change buys you a seven-minute ride, starting in 2020.It's no secret that McCall loves companies that offer investments in major trends of the future like genetic testing and 5G. And certainly, space exploration sounds pretty futuristic. McCall warns that he's not ready to buy shares just yet, but he plans on keeping a close watch on Virgin Galactic. If you're ready to hop aboard and blast off, he recommends investing $5,000 and letting time do its thing.For more on food stocks, Baltimore restaurant recommendations, space exploration and even some political commentary, tune into this episode of "Moneyline" with Matt McCall.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Buy-and-Hold Stocks to Play Investing's Biggest Trends * 7 Stocks to Buy in November * 5 Strong Buy Stocks Under $5 With Massive Upside Potential The post Competition Is Heating Up for Once-Loved Food Stocks appeared first on InvestorPlace.
Richard Branson’s Virgin Galactic Holdings on Monday became the first space-tourism business to go public as its stock began trading on the New York Stock Exchange.
Social Capital founder Chamath Palihapitiya invested millions in space tourism company Virgin Galactic but this tech pioneer warns everybody about the dangers of social media.
Sir Richard Branson's spaceship tourism company Virgin Galactic started trading on the New York Stock Exchange Monday.