Branson sells more than ten million shares of Virgin Galactic
Capitalism ?in? space? Continuing his steady off-loading of Virgin Galactic stock since the company went public, Richard Branson has sold another 10.5 million shares, lowering his steadily shrinking ownership share another 4% to 18% total.
The sale garnered him $300 million in cash.
When the company went public in 2019, Branson reserved for himself 51% ownership. Since then he has periodically sold off large chunks, usually well timed to specifically planned events that worked to pump up the stock’s price. This last sale obviously was planned to take advantage of the publicity following Branson’s own suborbital flight in July.
While Virgin Galactic might have a future in suborbital space tourism, I remain very skeptical. It certainly does not have a future in the larger orbital market, as it has no experience building real rockets (Virgin Orbit was spun off this company years ago, taking with it all that experience). Thus, the company has very limited possibilities. As the orbital market grows and becomes dominant, I can’t see there being that much long term interest in short suborbital hops.
I think Branson agrees with me, which is why he is getting out when the getting is good. That he is following the classic and very corrupt method of “pump and dump” only solidifies my belief that he is an outright con-man.
That the mainstream press continues to genuflect before him only tells us how corrupt and incompetent that press has become.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
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Capitalism ?in? space? Continuing his steady off-loading of Virgin Galactic stock since the company went public, Richard Branson has sold another 10.5 million shares, lowering his steadily shrinking ownership share another 4% to 18% total.
The sale garnered him $300 million in cash.
When the company went public in 2019, Branson reserved for himself 51% ownership. Since then he has periodically sold off large chunks, usually well timed to specifically planned events that worked to pump up the stock’s price. This last sale obviously was planned to take advantage of the publicity following Branson’s own suborbital flight in July.
While Virgin Galactic might have a future in suborbital space tourism, I remain very skeptical. It certainly does not have a future in the larger orbital market, as it has no experience building real rockets (Virgin Orbit was spun off this company years ago, taking with it all that experience). Thus, the company has very limited possibilities. As the orbital market grows and becomes dominant, I can’t see there being that much long term interest in short suborbital hops.
I think Branson agrees with me, which is why he is getting out when the getting is good. That he is following the classic and very corrupt method of “pump and dump” only solidifies my belief that he is an outright con-man.
That the mainstream press continues to genuflect before him only tells us how corrupt and incompetent that press has become.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
You can’t buy class Rich’ This may have been the biggest stain left on the cause of free enterprise spaceflight-as I’d still prefer Soyuz/ R-7 with a hole. R-7 burned for a good while on a pad and withstood the abuse long enough for aborts: was struck by lightning…strap-on accidents; launched 2OOO times and never -itself-killed a soul.
How does one yell ‘suckers!!!!!!!!” without offending anyone?