SPCE: A Journey Back to Orbit

Virgin Galactic has and faced numerous financial and operational struggles, including the backruptcy of it's subsidiary Virgin Orbit. However, this company is set to commence commercial "space flights" this 2023 Q2. There has been an uptick in stock price action lately, as I believe awareness is spreading.

Short term: 1-2 months
I expect the stock to pop short term as we "buy the rumor, sell the news" into the upcoming scheduled space flights around end of June.

Long Term: 1 year+
I'd expect the macro environment to drag most stocks down in 2023 Q3/4 as we face recession headwinds, but if SPCE can become profitable I see it reclaiming it's all time high soon after achieving profitability.

Trade active

Comment:

Virgin Galactic has a test flight, Unity 25, scheduled for today, prior to their commercial flights in June. This could lead to a potential gain if successful.

www.yahoo.com/news/t...ty-25-220117968.html

However, for an undetermined reason, the probability of a fed rate hike in June jumped above 50% today. Many stocks are reacting negatively to this news.

www.cmegroup.com/mar...e-fedwatch-tool.html

Comment:

Stock is down >10% the day after a successful test flight. Perhaps a mini buy the rumor sell the news event, but a good time to buy if you believe in this company.

Comment:

I had taken some profits at $5 and just rebought at $3.45. I still don't understand the selloff, but unless something impedes the upcoming commercial flights, I see SPCE rebounding in the next month.

Comment:

Showing signs of life, but i'd like to see it reach back to $5 by end of June. If the commercial flights are successful, there's no telling how the market may react. Sky's the limit!

Comment:

SPCE up 45% in after hours, currently. Will likely take some profits (20-30% of my bag) first thing in the morning, but will let most of it ride.

Comment:

For transparency, I sold 20% Friday morning at $5.77 and ended up rebuying in the afternoon once it dropped to $4.75.

Similarly, today I again sold 20% at $5.70. The whole market seemed to be rolling over today, so I'm hopeful SPCE can continue to run despite the grander selling pressure.