Home Business NewsBusiness Virgin Galactic shares surge 22%

Virgin Galactic shares surge 22%

by LLB Editor
12th Jul 21 11:45 am

Shares of Virgin Galactic Holdings Inc. jumped as much as 22% in premarket US trading on Monday, following Richard Branson’s trip more than 50 miles above Earth over the weekend.

They were up 7.1% as of 5am in New York, adding about $841m to the Las Cruces, New Mexico-based company’s market value.

The 70-year-old billionaire and five employees completed a long-awaited test flight to space on Sunday, reaching an altitude of more than 50 miles during the hour-long journey.

“Welcome to the dawn of a new space age,” Branson told guests at the Spaceport America complex near the town of Truth or Consequences, New Mexico.

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