Virgin Galactic Shares Rise on Regulatory Approval
June 28 2021 - 8:31AM
Dow Jones News
By Matt Grossman
Shares in Virgin Galactic Holdings Inc. were poised to continue
climbing Monday morning after the space-tourism company said Friday
that it had cleared a regulatory hurdle to send passengers on
suborbital spaceflights.
The shares were up 7.8% on Monday morning in premarket trading,
continuing on from a 39% jump Friday. Shares closed Friday at
$55.91, and have more than doubled in value year to date.
Last week, Virgin said the Federal Aviation Administration
expanded its space-launch license. The agency doesn't regulate the
safety of space-tourism flights such as Virgin's, but the approval
represents a sign-off on the company's launch procedures.
The company has additional test flights planned before seats
open to paying passengers.
Blue Origin LLC, another space-tourism company, plans a
high-profile launch next month that will include founder Jeff Bezos
as one of its first space passengers.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
June 28, 2021 08:16 ET (12:16 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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