Long Position on SPCE @ $30.50 on 1/14/2021 (Momentum)

Virgin Galactic Holdings, Inc. (SPCE), an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles.

The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space. In addition, it engages in the design and development, manufacturing, ground and flight testing, and post-flight maintenance of spaceflight vehicles.

Virgin Galactic Holdings reported a 3rd Quarter September 2020 loss of $0.34 per share on revenue of $0.0 million. The consensus estimate was a loss of $0.27 per share.

While Virgin Orbit and Virgin Galactic are not the same, the high anticipation for Virgin Orbit's rocket launch on Sunday, could be the reason shares are moving higher.

Entry Point: $30.50

Trading Range: $9.06 - $42.49

Stop Loss: $28.15

Target Price: $34.00

Updates

1/25/2021 9:55:50 AM

SPCE closed at $37.00

Position closed on 1/25/2021 at price of $37.00 with a 21.31% gain in 11 days.

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