January 27, 2022

Virgin Galactic, The Spaceship company that crashed my portfolio


Lets take a trip down memory lane. Back in July of 2021 the top elite one percenters were breaking ground on a new industry, Space flight, but for the common man. Much like regular air travel the idea is simple, Build a space ship, charge outrageous prices and fly them to space, simple. All the top one percenters you can think of were in on it Elon Musk, Jeff Bezos, and finally Richard Branson.

Out of all of them however Richard Branson has turned his company Virgin Galactic from a golden goose to a heaping pile of space turds. I first saw Virgin Galactic when word came down that Mr. Branson himself was going to be flying in his very own spaceship on its first ever crew launch. So naturally like the good investing ape that i am i chose to get in early and boy did it pay off. The stock price soared from $30 to $52 in that one day. After the flight was successful i cashed out and boom a nice little profit was secured.

I knew that after reaching the all time high of $52 there was bound to be a big sell off from investors, so naturally i made the decision to hold off, wait for it to drop and buy back in… this is where i fucked up.

You see what i didn’t expect, literally the very last thing on my mind that could possibly happen came to pass. Richard Branson, the owner and founder of the company, the man that consistently told us this was the future of space travel that Virgin Galactic will be successful in their mission to commercially fly people to space suddenly decided to sell of a massive amount of his shares. approximately $300 million to use that for his other business ventures after being demolished by the pandemic.

But still, no biggie after all the man has a lot of assets to keep going and the pandemic wasn’t helping that much. But… what i cant explain was the excellent timing on Mr.Bransons part because shortly after he sells the FAA suddenly grounds Virgin Galactic because of an airspace violation on their descent from space. needless to say the stock is currently trading at $10 a share after i bought in at around $33. And now just like space my shares are currently floating in an endless void of profit loss just waiting for the chance to shoot back up so that i can get the hell out and kiss the trading floors once again.

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