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Why Virgin Galactic stock is surging today

By Senad Karaahmetovic Virgin Galactic (NYSE:SPCE) shares are moving sharply higher in pre-market Friday after the spaceflight company founded by Richard Branson said the planned...
Why Virgin Galactic stock is surging today © Reuters Why Virgin Galactic (SPCE) stock is surging today
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By Senad Karaahmetovic

Virgin Galactic (NYSE:SPCE) shares are moving sharply higher in pre-market Friday after the spaceflight company founded by Richard Branson said the planned upgrades of VMS Eve, its carrier mothership, are complete.

“The mothership is expected to enter ground tests next week before commencing flight tests to verify the enhancements to the ship. Commercial service remains on track to begin in Q2 2023,” the company said in a statement.

Moreover, Virgin Galactic announced organizational changes, aimed at supporting “the Company's core near-term objectives of delivering increased flight frequency and executing on rapid fleet development plans.”

Swami Iyer, President of Aerospace Systems, is leaving the company, effective immediately. He will continue to serve as an advisor to CEO Michael Colglazier.

"With the completion of the enhancement program for our mothership at hand, our streamlined leadership structure will help propel the business forward as we prepare for commercial spaceline operations," said Colglazier.

Virgin Galactic stock is up about 19% in pre-market Friday.

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07-02-2023 08:37:56 (UTC+7)

EUR/USD

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EUR/USD

1.0739

+0.0009 (+0.08%)

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132.35

-0.29 (-0.22%)

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AUD/USD

0.6899

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    EUR/USD 1.0739 ↑ Buy  
    GBP/USD 1.2045 ↑ Buy  
    USD/JPY 132.35 ↑ Sell  
    AUD/USD 0.6899 ↑ Buy  
    USD/CAD 1.3429 ↑ Sell  
    EUR/JPY 142.13 ↑ Sell  
    EUR/CHF 0.9953 Neutral  
    Gold 1,884.45 Buy  
    Silver 22.328 ↑ Buy  
    Copper 4.0445 ↑ Buy  
    Crude Oil WTI 74.75 Buy  
    Brent Oil 81.63 ↑ Buy  
    Natural Gas 2.492 Buy  
    US Coffee C 176.35 Neutral  
    Euro Stoxx 50 4,205.45 Neutral  
    S&P 500 4,111.08 ↑ Buy  
    DAX 15,345.91 Neutral  
    FTSE 100 7,836.71 Neutral  
    Hang Seng 21,339.00 ↑ Buy  
    Small Cap 2000 1,954.80 ↑ Sell  
    IBEX 35 9,159.20 ↑ Sell  
    BASF 52.950 ↑ Sell  
    Bayer 58.19 ↑ Sell  
    Allianz 219.30 Neutral  
    Adidas 155.36 ↑ Sell  
    Lufthansa 9.803 ↑ Buy  
    Siemens AG 142.96 Sell  
    Deutsche Bank AG 11.356 ↑ Buy  
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RON 95-V24.00024.480
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Ngoại tệMua vàoBán ra
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KRW16,1519,68
Cập nhật lúc 08:31:42 07/02/2023
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