Virgin Galactic Holdings Inc.’s true test begins: Can it translate the flights into a steady stream of space tourists?
The British entrepreneur beat fellow billionaire Jeff Bezos to the edge of space. Mr. Bezos is set to embark on his own space flight with his company Blue Origin LLC’s rocket. The two men are part of a new generation’s space race, only this isn’t to stop the spread of communism but to spread consumers across the globe and possibly further. both attempting to expand access beyond the reach of government and research missions—at least to a handful of high-net-worth individuals who can afford it.
Virgin Galactic shares, which have attracted a big retail following, were up more than 7% premarket Monday after Sunday’s event.
The real results everyone will be waiting for is wether space travel is a sustainable business model and if it is something the average millionaire consumer would want. Because if the Australian tony stark isn’t able to make it work instead of being the “man who commercialized space travel” he might instead be in another tabloid reading “Richard Branson builds most expensive flying tin can”.
But all jokes aside, personally I have a good feeling and have bought some shares and an interest of my own towards the commercial space race but with government regulations and a serious case of judgement coming from the aviation big wigs, the water is still foggy on the outcome.