Virgin Galactic, The Parent Company of Virgin Orbit, Expecting Share Price peak16th Aug 2020
Virgin Orbit is the small launch division of Virgin Galactic that launches small satellites into orbit. Virgin Galactic have been at the forefront of overall efforts to bring space flight to the people. A recent deal with NASA has seen the company’s share price increase by 60%.
The last month has seen the rise in the price of Virgin Galactic Holdings shares, the parent company of Virgin Orbit. The shares have risen by 60% as a result of a deal by NASA to use private spaceships to take people to the International Space Station (ISS).
Virgin Orbit Hires a New CEO
In preparation for commercializing its space travel venture, they hired Michael Colglazier as their new CEO. Michael was working at Disney before his transfer to the parent company. The management’s change is in preparation for the projection of conducting profitable space tours.
The business model that they use is offering commercial space tours to its clients through the Virgin Galactic platform. However, taking astronauts to the orbit using rockets is a whole different ball game for the company. Although it is not yet clear how they will accomplish this, some investors believe that the company can send astronauts into the ISS.
Some financial analysts, notably the Alembic Global Advisors, state that the company has a bright future. Their share price could potentially reach $23 soon. To start making money, top financial analyst Peter Skibitski states that they must fly around 150 flights per year.