|Bid||4.9800 x 1000|
|Ask||4.9900 x 4000|
|Day's range||4.8200 - 5.0200|
|52-week range||4.7600 - 26.5000|
|Beta (5Y monthly)||1.08|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Don't look now, but Blue Origin just had another "anomaly" -- and the future for investing in space tourism just got a little bit less certain. On Monday, Sept. 12, an unmanned New Shepard rocket operated by Blue Origin -- the space tourism venture established by Amazon founder Jeff Bezos -- suffered a booster failure about a minute after launch. The good news is that the rocket's escape capsule operated as designed, boosting away from the rocket core and then parachuting back down to Earth.
Chamath Palihapitiya, one of the big boosters of special purpose acquisition companies, has thrown in the towel, returning $1.5bn to investors after failing to find targets. The former Facebook executive, who once labelled himself the Warren Buffett of his era, said two of his vehicles would liquidate, blaming valuations and volatility for his inability to find deals. Spacs are publicly traded vehicles that raise cash and then seek to acquire private companies.
Striking a discordant note from the market's enthusiasm today is space tourism pioneer Virgin Galactic (NYSE: SPCE), shares of which are falling 5.2% in response to a big downgrade to "underperform" from analysts at investment bank Bernstein. As StreetInsider explains today, Bernstein just cut Virgin Galactic one notch to the equivalent of a sell rating and cut its price target on the shares to $4, implying roughly 33% downside in the stock. "We now have less confidence in the success of this business," states Bernstein bluntly, criticizing Virgin Galactic for continually pushing back plans to begin commercial space tourism flights, and warning that with paying flights not expected to begin before the second quarter of 2023 at the earliest, there is now only "limited potential for positive near-term catalysts."