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.