Hedge funds and other investors are convinced Virgin Galactic Holdings will establish a new space-tourism industry and fly people at hypersonic speeds.
The first sign of trouble was the ever-extended launch date.
Meanwhile, Virgin Galactic is preparing to resume ticket sales for future space flights, in an effort to assure investors that affluent customers will pile in as the company edges toward commercial service. Virgin Galactic will begin taking $1,000 refundable deposits Wednesday, which will put those customers first in line for booking reservations.
The next round of reservations is expected to cost more than the previous tranche, based on demand, company officials have said. Those sums are largely refundable until a flight date is assigned. The stock surge has proved a huge financial win for Boeing Co., which invested $20 million in October ahead of the IPO for a minority stake. The money, invested through Boeing’s HorizonX Ventures unit, is aimed at furthering research into hypersonic travel, a key area of interest for the aerospace giant.
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