Both FAA investigation & announcement came out yesterday.
FAA were in the control room monitoring Unity 22, VG should have been able to predict an investigation - it’s not a great sign.
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Frustrating stock
Frustrating how?
No market for for their product
Basic technology dressed up to look ground breaking
Over priced and more expensive than ever
Unable to follow the set flight path
Chairman & Founder dumping most of their stock
In ability to demonstrate scale ability
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No market? There’s definitely a market for space travel, even if limited to high net worth inds at the outset
Not a largest enough one to justify the investment.
They’ve been public for less than 2 years and have already ripped up their business plan from the merger presentation, to reduce the price from $250k to $100k. This shows they know their market simply isn’t there and they’re being forced to change tack.
Still early, such an unprecedented market. But I respect your opinion
You could say that I’m some what of a Virgin Bear 
and have covered a few times my issues with the company. Here are a few links to save you fingers.
The merger presentation here shows how far they’ve already had to change the business plan, a complete 180 from reducing the price to almost doubling it. Using their own metric it reduces their TAM massively -
Tech - Virgin Galactic - SPCE - Share Chat - #430 by CashCow
I’ve got a bet running with @piggeh
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Is he really selling off his bits? Honourable gents, what is your thoughts…actions? I’m going to hold tight on my minuscule portion.
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> New Mexico, one of the poorest states in the US, paid $220 million to build Spaceport America.
Branson is a grifter. With Chamath Palihapitiya dumping 100% of his stake now now Branson bailing out too, I really don’t know why anyone would stay invested in this farce.
By the way, for anyone with Netflix, a new series started tonight showing the preparations for the first proper American civillian launch to space with SpaceX due to send 4 people to orbit for a few days (not a few minutes on the edge of space) this month.
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@MZain When the people who know the business the best are selling it’s a massive concern. They know the business in a way we never will and , being very generous, think they can make more money elsewhere.
I’ve not seen the series @CashCow mentioned yet but the Inspiration 4 mission is so much more exciting. They’re not taking a trip on a rocket power glider (that cannot follow it’s agreed course) for a quick trip to near space.
They’re going to orbit earth for 3 days, like proper astronauts.
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Here’s a review of this doc for anyone interested.
Virgin Galatic sold $500m new stock & $300m on Branson stock after the test flight but didn’t disclose the FAA investigation to investors.
Paywalled, text in comment above.
… during test flight preparations a third-party supplier “recently flagged a potential manufacturing defect in a component of the flight control actuation system” that is supplied to the space company.
“At this point, it is not yet known whether the defect is present in the company’s vehicles and what, if any, repair work may be needed,”
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It looks like it isn’t just me who didn’t like that VG stayed quiet, selling $800m worth of stock, while pretending Unity 2 was a success - when they knew it wasn’t.
Bank of America Analyst -
“Point blank, in our view, it is unacceptable to have an event during a flight that, per FAA regulations, is considered a mishap and then claim that the mission was a full success,” analyst Ronald Epstein wrote in a note to investors. “The old adage, it’s easier to ask for forgiveness than permission, generally is a poor strategy in aviation.”
@Drew for the original post.
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Virgin galactic have been cleared to fly.
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“They’ve [VG] made the required changes”
VG just decided they need more space to fly in, how did they wait until passengers are on board until they figured this out? This is what test flights are for!
“The company will also take steps to ensure it communicates notifications to the FAA in real time.”
The FAA were in the same room, just look over and say “hey boss looks like we’re a little of course, that a problem? We going to hit a plane or anything?”
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So next test flight delayed and no customer flights till q4 2022.
Edited share price down 14% AH
With no catalysts coming now until at least Q3 2022 this stock will probably drop into single digits. Start loading up next summer on this stock for now its a do not buy only falls from here.
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Waiting for $10. Nice to see the dive, bad news for those have got money tied in.
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