Topline United Airlines will be equipping its planes with free in-flight Wi-Fi using SpaceX's Starlink internet service next year, the airline announced Thursday, becoming the latest airline to offer complimentary internet service. WASHINGTON - AUGUST 16: A United Airlines aircraft passes by a Continental Airlines aircraft as it ... [+] taxis to takeoff from the runway of Ronald Reagan National Airport August 16, 2006 in Washington, DC. (Photo by Alex Wong/Getty Images) Getty Images Key Facts United will st ...

Virgin Galactic just sold tickets on its orbital flights at the highest prices ever. Shares of Virgin Galactic (SPCE 6.75%) have fallen about 90% during the past year, tumbling from a high of $65 a share to less than $7. The space stock enjoyed a bit of a bounce after the company on Aug. 7 delivered better-than-expected revenue results for the second quarter. But since then, the stock has retreated. Why is that? From $250,000 to infinity, and beyond It wasn't exactly "infinity." But the biggest single surpr ...

Shares of Virgin Galactic (SPCE) have gained 4.4% over the past four weeks to close the last trading session at $6.85, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $35.67 indicates a potential upside of 420.7%. The mean estimate comprises nine short-term price targets with a standard deviation of $30.04. While the lowest estimate of $6 indicates a 12.4% decline from the curre ...

Financial Performance - Virgin Galactic reported a quarterly loss of $4.36 per share, better than the Zacks Consensus Estimate of a loss of $5.40, and an improvement from a loss of $9.20 per share a year ago, representing an earnings surprise of 19.26% [1] - The company posted revenues of $4.22 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 20.57%, compared to revenues of $1.87 million in the same quarter last year [2] Stock Performance - Virgin Galactic shares have declined approximately 88.5% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current Zacks Rank for Virgin Galactic is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is -$5.40 on revenues of $0.55 million, and for the current fiscal year, it is -$19.67 on revenues of $6.55 million [7] - The estimate revisions trend for Virgin Galactic is mixed, and future stock movements will depend on management's commentary during the earnings call [3][4] Industry Context - The Aerospace - Defense industry, to which Virgin Galactic belongs, is currently ranked in the top 23% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, Rocket Lab USA, Inc., is expected to report a quarterly loss of $0.10 per share, with revenues projected to increase by 72.8% year-over-year [9][10]

A reverse stock split didn't help Virgin Galactic this week. A reverse stock split can't save Virgin Galactic That wasn't the case, despite no real news from Virgin Galactic itself. The company is in a pretty quiet period while it's building the Delta class spacecraft and completing both ground and flight testing. But commercial operations aren't expected to start until at least mid-2026, so the company needs to lower its cash burn dramatically and save as much cost as possible. Any turnaround is a long way ...

Group 1 - Virgin Galactic (SPCE) stock has decreased significantly, with its cash on the balance sheet exceeding the total market value of the company [3] - If Virgin Galactic can achieve a commercial launch within two years, the potential upside for investors is substantial [3] - The current risk level remains high, but the potential rewards for investors could be even higher [1]

Core Insights - Virgin Galactic is facing significant challenges, including the retirement of its only operational spaceplane, Unity, and a potential two-year wait for a new Delta class spaceplane to be built and certified [5][9] - The company's stock has experienced a dramatic decline, with a 31% drop in value since the announcement of a 1-for-20 reverse share split [4][9] - To retain employees during this uncertain period, Virgin Galactic has been awarding restricted stock units (RSUs), indicating growing nervousness among staff [3][10][12] Company Actions - Virgin Galactic awarded 1,741 RSUs to a new non-executive employee, which will not fully vest for four years [3] - The company has issued RSUs to new hires five times in the past three months, suggesting a trend to incentivize employee retention [11] - The total RSU awards this year amount to 6,460 shares, valued at less than $66,000, indicating a low financial impact but a significant concern regarding employee morale [12] Stock Performance - Following the reverse share split, the stock initially rose to $14.80 but quickly resumed its downward trend [4] - As of Tuesday morning, the stock was down 13% from the previous close, reflecting investor skepticism about the company's future [9] - The overall sentiment among investors appears to be cautious, with many unsure about the long-term viability of the company [8]

Well, it seems I was too optimistic. Virgin Galactic is no longer a penny stock -- for now. Instead, Virgin Galactic's share price has plunged, and as of 11:50 a.m. ET Monday is down 17.2% at $11.34. This was probably unavoidable. As I explained last week, and also two months prior, Virgin Galactic is a company in decline. Its sole operational spaceplane, Unity, has been retired, and the company can't fly space tourists, or make revenue from space tourism flights, until it builds a new Delta spaceplane curr ...

Group 1 - Virgin Galactic is executing a 1-for-20 reverse stock split to comply with NYSE's minimum bid requirement, as its stock closed at 68.49 cents and had not been above $1 since May 21 [1][2] - The reverse split will reduce the number of shares outstanding by 95%, leading to an approximate 20-fold increase in share price, while the overall value of each investor's holdings will remain roughly the same [5] - The company expects to have two Delta ships operational by 2026, conducting about 750 space flights annually and generating approximately $450 million in revenue [3] Group 2 - SPCE stock has decreased by 54% over the last three months and 72% in 2024, despite a 410% increase in revenue last quarter, totaling $1.99 million [6] - The firm had $867 million in cash at the end of the first quarter, which positions it well for future operations [6] - Operating expenditures for the firm were $410 million over the 12 months ending in March, and if revenue targets are met while keeping spending flat, positive operating income is expected in 2026, potentially boosting SPCE stock [9]

Core Viewpoint - Virgin Galactic has officially exited the space tourism business for the foreseeable future, pausing operations to develop new spaceplanes while competitors like SpaceX and Blue Origin continue to advance in the market [1][14][15]. Competitors in the Wings - SpaceX's Starship is designed to carry up to 100 passengers at a cost as low as $10 million per launch, potentially offering ticket prices around $100,000, which is significantly lower than Virgin Galactic's current pricing [7][18]. - Blue Origin has resumed its space tourism flights, benefiting from Virgin Galactic's operational pause, allowing it to scale its business without competition from Virgin [15]. - SpaceX's Starship is an orbital-class vehicle capable of longer trips, contrasting with Virgin Galactic's suborbital flights that offer only a few minutes of weightlessness [19]. Market Dynamics - The cancellation of Yusaku Maezawa's space tourism trip with SpaceX has disappointed investors, as it would have provided insights into SpaceX's pricing strategy and its impact on the market [13][21]. - Virgin Galactic's decision to retire its "Unity" spaceplane and pause operations comes after its seventh commercial flight, indicating a strategic shift towards developing new models [14]. - The competitive landscape is shifting, with SpaceX and Blue Origin poised to capture market share while Virgin Galactic reassesses its strategy [16][17].