Here’s what Branson’s successful spaceflight means for Virgin Galactic shares

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Sir Richard Branson speaks after he flew into space aboard the Virgin Galactic, a flight he described as an “experience of a lifetime” which he hopes will usher in an era of lucrative space tourism at Spaceport America, near Truth and Consequences, New Mexico on July 11, 2021.

Patrick T. Fallon | AFP | Getty Images

Virgin Galactic’s successful launch of its billionaire founder into space was met with a cautious reaction from the stock market.

Shares of the space exploration company fell 10% Monday morning, as the company announced that it would sell up to $500 million in additional stock to help fund its growth after Sunday’s flight.

Wall Street analysts viewed the trip as positive for the stock, but it didn’t appear to be enough to change the views of some Virgin Galactic skeptics.

This is what some senior analysts have said.

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