Virgin Galactic soars
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 16 June 2023
⏱️ 6 minutes
🧾️ Download transcript
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Virgin Galactic: Successful Test Flight Does Not Mean Share Price Will Take Off
Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Friday, June 16th, and I'm your host Julie Morgan. |
| 0:12.0 | Virgin Galactic is soaring following the announcement |
| 0:15.1 | that Space Flight Commercial Operations will begin at the end of the month. |
| 0:19.5 | Intel is close to a deal that will bring in more than $10 billion in subsidies, and Square Space |
| 0:25.7 | is buying the assets of Google domains. |
| 0:29.7 | Here's what's making headlines today. |
| 0:31.9 | Pre-market Virgin Galactic is up nearly 40% |
| 0:35.0 | this after the company announced that it is beginning its |
| 0:38.0 | spaceflight commercial operations. |
| 0:40.0 | The first flight is scheduled for the window between June 27th and June 30th. |
| 0:45.1 | Galactic 1 will be a scientific research mission with three crew members. |
| 0:49.8 | The crew is from the Italian Air Force and National Research Council of Italy. |
| 0:54.3 | Their mission is to conduct microgravity research. |
| 0:57.6 | Virgin Galactic said monthly flights with private astronauts should begin in early August. |
| 1:03.2 | Seeking Alpha analyst Ivan Lee recently issued a cautious appraisal of Virgin Galactic. |
| 1:08.9 | Lee kept an underweight rating on the stock after considering the company's revenue projection and technology development. |
| 1:15.8 | He says the numbers don't seem to add up for at least the next three to four years. |
| 1:20.5 | And earlier this year in March, there was a warning placed on Virgin Galactic that says it is at high risk of performing badly. |
| 1:29.0 | Intel is reportedly close to a deal with the German government to receive up to $10.8 billion in |
| 1:35.4 | subsidies for a new manufacturing plant in the country. |
| 1:39.1 | That number was initially $3 billion less. |
... |
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