Virgin Galactic (NYSE: SPCE) has been targeted by Reddit investors and space tourism believers who seem determined to drive the company’s stock price higher and higher.
Since the Reddit forum, WallStreetBets, started a short-squeeze phenomenon back in January, stocks across the market have been surging thanks to the behaviour of retail investors. Now, the big question on everyone’s lips is as follows: what stock will be the next GameStop or AMC?
Virgin Galactic appears to have a good chance to be the next GME/AMC. Its popularity in investing circles is increasing by the day, and many feel it is primed for an exponential surge in value.
So, in this article, we discuss what the company is, what its investment prospects are and whether or not you should buy SPCE shares. To kick things off, find out the best places to buy SPCE stock below.
Where to buy Virgin Galactic stock online
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What is Virgin Galactic?
It is a commercial spaceflight company that exists beneath the wider Virgin Group umbrella. It is in the process of pioneering and producing commercial spacecraft with the aim of providing suborbital spaceflights to paying tourists in the near future.
It faces stiff competition from Musk’s SpaceX and Bezos’ Blue Origin, and this is perhaps why some major financial institutions have expressed doubts about the company’s credentials and taken out large short positions. However, investors are now insuring this stock is moving in the right direction.
Should I buy SPCE stock?
Even if you think Virgin Galactic has strong fundamental value, right now, you need to recognise that isn’t dictating its price action, sentiment is.
So, if you think you can successfully invest in SPCE based on sentiment and profit from the inevitable volatility, it could be a good investment. However, make sure you are cognisant of the fact that while there are major potential rewards, the stock has an elevated risk profile.