Virgin Galactic (SPCE) 🚀 - Share Chat

I know there are other fans here of Professor Scott Galloway. His take on Virgin Galactic is fantastic - he calls it an “a cash machine for Branson’s failing airlines and cruise ship businesses”.

I’m honestly shocked and alarmed that anyone would hold shares in this terrible business. There’s no useful new technology here, there’s no sustainable business (environmentally or economically), it’s been sucking taxpayer money from the residents of New Mexico and its pre-public investors have been selling off their shares faster than a high altitude plane full of millionaires hitting the ground.

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I would generally agree with your points if it was listed on the LSE where tradition valuations were the predominant metrics to determine stock movement.

However the psychology in the US is different, there’s lots of companies that have the ‘fake it till you make’ overlay to their business.
Sentiment is a huge pull factor for stock movement, especially for new industries. At the moment its terrible but once commercial flights start up and you see the likes of Elon going up, that will change.

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Congratulations to Dicky Branson and King of the SPAC pump Chamath. You did it guys well done and you made it below $8.60 nearly 3 years ahead of schedule!

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