19.8 C
New York
Thursday, June 30, 2022
HomeStocksVirgin Galactic's stock soars today but ends up giving most of its...

Virgin Galactic’s stock soars today but ends up giving most of its gains

Virgin Galactic Holdings, Inc. (SPCE) Stock

“Virgin Galactic Holdings Inc <SPCE.N> shares surged 24% on Tuesday, extending a rally since early December to over 400% and evoking a warning from an analyst who likes the space tourism company but warns it has become overbought.

Shares of the company backed by billionaire Richard Branson have taken off in popularity among individual investors in recent sessions, nearly displacing Tesla Inc <TSLA.O>, another favorite among non-professional investors.” Source: https://finance.yahoo.com/news/virgin-galactics-stock-soars-fueled-185550996.html

Virgin Galactic stock chart

Virgin Galactic stock chart
Virgin Galactic stock chart

When stocks move in such a way, there is momentum, and often it is not news or any fundamentals. We suggest extreme caution to this Virgin Galactic Holdings, Inc. (SPCE) stock rally.

The daily range today for the stock was 28.75 – 38.67 was 28.75 – 38.67, and Virgin Galactic Holdings, Inc. (SPCE) stock made a new 52-week high at 38.67.

Virgin Galactic Frenzy Starting to Look a Little Like Tesla Run

“(Bloomberg) — A seven-day surge in Virgin Galactic Holdings Inc. has lifted the stock four times above its level in December. Gains are snowballing, options traders are piling in, chatrooms are lighting up. It’s all starting to look similar to another space-age growth stock’s recent run.

Though the company is just a fraction of Tesla Inc. in terms of market value, the frenzy around its shares is similar. The average increase in Virgin’s share price has totaled more than 9% since last Monday, and double-digit rallies have been propagating.” Source: https://finance.yahoo.com/news/virgin-galactic-frenzy-starting-look-201956446.html



Please enter your comment!
Please enter your name here

Most Popular