Virgin Galactic has been Cleared by FAA to Fly Customers Into Space.
The Federal Aviation Administration upgraded the company’s existing license to cover customer flights.
This regulatory approval is moving the budding industry founded by billionaires one step closer to reality.
Virgin Galactic said the approval was the first of its kind also confirming that a May 22 test flight performed well against objectives.
“We have conducted a comprehensive assessment of data obtained from its May 22 test flight and confirmed that the flight operated successfully against all flying goals,”
Virgin added.
The approval marks another milestone for an industry that not long ago was the stuff of science fiction.
Virgin Galactic was founded by entrepreneur Richard Branson and the company has been working toward its goal since 2004.
Many congratulations to @JeffBezos & his brother Mark on announcing spaceflight plans. Jeff started building @blueorigin in 2000, we started building @virgingalactic in 2004 & now both are opening up access to Space – how extraordinary! Watch this space…
Fellow billionaire Jeff Bezos plans his first trip in July, after auctioning a passenger seat for $28 million.
Stocks soar to the sky
The increase in SPCE stock today is accelerating the uptrend that began in late May of this year, when the price action effectively broke a steep falling wedge, culminating in a surge to $41.5.
Since then, the price action has left two bullish gaps, indicating increased interest from retail traders on the popular Reddit messaging board WallStreetBets and the market’s apparent positive sentiment toward Virgin amid the possibility of the company becoming the first to fly customers into space.
For the time being, the upward momentum in the company may allow SPCE stock to approach, if not exceed, its all-time high of $62.5 per share, fuelled by investors’ aspirations and fantasies of space flight.
