Virgin Galactic stock hit $8.90 on Monday, a new 52-week high, as investors piled into space stocks ahead of the anticipated SpaceX IPO.
Virgin Galactic Holdings, Inc., SPCE
SPCE is now up more than 300% from its lowest point this year, pushing its market cap close to $700 million.
The broader space sector has been on a tear. Rocket Lab, Planet Labs, and Intuitive Machines have all caught a similar bid as traders position ahead of what could be the largest IPO in history.
SpaceX is expected to be valued at over $1.78 trillion at listing. Polymarket traders are already betting the valuation could push past $2 trillion post-IPO.
That enthusiasm is spilling over into the smaller players — and Virgin Galactic is one of the biggest beneficiaries.
Fresh ownership filings added fuel to Monday’s move. RichRich Capital disclosed a 4.87 million share position, equal to a 4.6% stake. Rich Huang separately disclosed 5.58 million shares, a 5.3% position.
Because Huang controls RichRich Capital, his effective stake in the company comes to 9.9%. That kind of concentrated ownership disclosure tends to catch attention.
Virgin Galactic also recently raised the price of a spaceflight ticket to $750,000 per person — a $100,000 increase from before.
The company is targeting commercial flight launches later this year, with volume expected to ramp from there.
VSS Unity, its prototype spaceship, has returned to the skies above Spaceport America in New Mexico. Glide tests for its first next-generation spaceship are planned for Q3, with rocket-powered test flights to space in Q4.
The new spacecraft are designed to fly twice per week and last for more than 500 missions.
The most recent results showed a net loss of $65 million, an improvement from $84 million in the same period last year. Adjusted EBITDA loss was $55 million, down from $72 million.
The company ended the quarter with $251 million in cash and short-term investments. It raised $52 million last quarter through at-the-money share offerings — a tool it may use again given the stock’s current run.
The RSI sits at 90, deep in overbought territory. Technically, the stock looks like it’s in the markup phase of the Wyckoff cycle, which is typically followed by distribution and a pullback.
A run toward $10 is possible in the near term, but analysts are far more cautious. The Wall Street consensus is a Hold, based on two Buys, three Holds, and one Sell over the past three months.
The average analyst price target is $3.61 — implying over 50% downside from current levels.
The post Virgin Galactic (SPCE) Stock Hits 52-Week High as SpaceX IPO Hype Builds appeared first on CoinCentral.
