This story was originally published here.
The industry is shooting for the stars. But when it comes to investing in Virgin Galactic (NYSE:SPCE) and SPCE stock, it’s enough to stay tethered to the price chart as well as a smart risk-adjusted position in a sometimes hostile investing environment. Let me explain.
Space, it’s the final frontier. And this week we got a bit closer to exploring those boundaries face-to-face than we’ve been in a long time. Tesla’s (NASDAQ:TSLA) Elon Musk was expected to send two astronauts into orbit via his privately held SpaceX venture on Wednesday. It would have marked the first manned mission into space in more than nine years. However, Mother Nature scuttled the launch.
For many stargazers watching from the sidelines should be rewarded Saturday when a second attempt is planned. But for those that want to participate on a whole other level and where “mission accomplished” can spell big-time profits, it’s time to consider buying SPCE stock.
SPCE stock is the publicly-traded version of Sir Richard Branson’s Virgin Galactic. The venture’s angle on the race to space is commercial tourism. And amid the skepticism and worries, there’s stronger reasons to see shares as positioned for huge future success.
To be clear, right this second, it isn’t a risk asset that’s going to be universally appealing. The company’s lack of profitability among other metrics investors find useful, is certain to keep many looking the other way. Nevertheless, Virgin Galactic is positioned as the kind of investment that could eventually yield a multi-bagger return. But don’t just take my word for it.
InvestorPlace’s Louis Navellier — a guy who knows a thing or two about finding massive ground floor investment opportunities — is on board with SPCE stock. A March recommendation has proven “early,” but with his bullish thesis largely intact, today’s investors are reasonably at an even stronger advantage. And Louis isn’t the only pro bullish on Virgin Galactic.
More recently, Matt McCall asked investors to look past the company’s recent mixed earnings report and embrace shares as an “excellent spec play.”
Matt and his research team are upbeat on the stock’s prospects after factoring in fine print within the quarterly press release. Those devilish details announced Virgin’s Space Act Agreement with NASA to develop high-speed travel technologies that will be used right here on planet Earth. And that could be a very profitable win for the company regardless of what happens in the final frontier.
Okay, but how about Richard Branson’s sale of 2.6 million shares earlier this month? Top insider selling could be cause for investors to hit pause, instead of the buy button. That would be a mistake though. The sale, which netted in the neighborhood of $500 million and reduced the founder’s stake by about 22%, is being used as a lifeline to support his other global and consumer driven businesses hurt by the novel coronavirus. All told, the headline fails to tell the whole story….
Editor's Note: Click here to keep reading.
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