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      Why Is The Virgin Galactic (SPCE) Stock Up During Premarket Session? - Stocks Telegraph

      By ST Staff

      Published on

      June 25, 2021

      1:01 PM UTC

      Why Is The Virgin Galactic (SPCE) Stock Up During Premarket Session? - Stocks Telegraph

      In today’s premarket session, Virgin Galactic Holdings Inc. (SPCE) shares are up 12.07% at $45.12. Last trading session, Virgin Galactic stock fell -1.37 percent to close at $40.26. SPCE stock traded for 13.39 million shares, which is below the average daily trading volume of 23.68 million shares for the past 50 days.

      Gains by SPCE stock in the last five days are 7.88%; however, over the past month, the shares have added 57.33%. In the past three months, SPCE’s stock price has increased 36.11%; it has gained 69.66 percent this year. Since it received approval from the Federal Aviation Administration (“FAA”), SPCE stock has been rising.

      SPCE has received approval for what?

      Virgin Galactic is a vertically integrated aerospace and space travel company that pioneered private, human spaceflights. Additionally, SPCE produces aircraft and spacecraft. SPCE is working on a spaceflight system to provide customers with an exceptional space adventure.

      Virgin SPCE’s commercial space transportation operator license has been updated by the FAA to allow Virgin Galactic to fly passengers into space, announced the company in a press release today.

      • In addition, SPCE has confirmed that it has completed an extensive review of the data from its test flight of May 22 and that all of the flight objectives were met.
      • FAA has granted a customer license for the first time to SPCE, which has held its operator’s license since 2016.
      • SPCE’s methodical testing program has been verified and validated by the FAA to meet their verification and validation criteria.
      • During SPCE’s May 22 flight of VMS Eve and VSS Unity, the crew flew into space for the third time and for the first time from Spaceport America, New Mexico.
      • The flight reached space at a height of 55.5 miles and sped up to Mach 3.
      • The Company reviewed extensive flight data and found the following:
        • SPCE’s upgraded horizontal stabilizers and flight controls performed well, as predicted.
        • The cabin environment data collected by SPCE also met expectations.
        • The VSS Unity was flown according to a specific trajectory in order to meet the objectives of these tests.

      SPCE’s further plans:

      As a result of the FAA’s approval of its full commercial launch license today, coupled with the success of its May 22 test flight, SPCE is confident that it will successfully conduct its first crewed mission this summer. Virgin Galactic (SPCE) will now turn its attention to preparing for the remaining three test flights after completing the analysis of the May flight.

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