SPCE Stock: What’s Going on With Virgin Galactic This Week?


Virgin Galactic (NYSE:SPCE) stock has been on the upward trend this week and we’re going over all the recent news affecting the shares.

Virgin Galactic (SPCE) billboard on the New York Stock Exchange, across from the Fearless Girl statue. aerospace stocks
Source: Tun Pichitanon / Shutterstock.com

The first bit of news worth mentioning is the ceasefire talk that started up yesterday. While not a true ceasefire, Russia did say it would reduce attacks on Kyiv. This resulted in overall strength in the market as many stocks rose on the news.

Another highlight for SPCE stock includes being named in the Global Space Tourism Market Research Report Forecast 2022 to 2028. Virgin Galactic was pointed out as one of the key players in the space tourism market.

Yet another report shined a light on SPCE stock this week. That report covers the demand for the guided missile and space vehicle market. Yet again, Virgin Galactic was listed among the companies with a strong presence in these spaces.

Jumping into the stocks’ trading volume today, PSCE isn’t seeing an unusual amount of movement. As of this writing, more than 8 million shares have changed hands. For the record, the company’s daily average trading volume is well above that at roughly 21.8 million shares.

While it might seem strange for SPCE stock to see so much movement this week, there’s one thing to remember: it’s a meme stock. That means it can take off at a moment’s notice when retail traders come together to pump the shares.

SPCE stock is up almost 1% as of Wednesday afternoon but is still down 18% since the start of the year.

We’ve got more stock market news to ready about below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/spce-stock-whats-going-on-with-virgin-galactic-this-week/.

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