Virgin Galactic stock drops 25% since IPO on Monday


Readers!
 
For many reasons, mostly political but partly ethical, I do not use Google, Facebook, Twitter. They practice corrupt business policies, while targeting conservative websites for censoring, facts repeatedly confirmed by news stories and by my sense that Facebook has taken action to prevent my readers from recommending Behind the Black to their friends.
 
Thus, I must have your direct support to keep this webpage alive. Not only does the money pay the bills, it gives me the freedom to speak honestly about science and culture, instead of being forced to write it as others demand.

 

Please consider donating by giving either a one-time contribution or a regular subscription, as outlined in the tip jar below.


 

Regular readers can support Behind The Black with a contribution via paypal:

Or with a subscription with regular donations from your Paypal or credit card account:


If Paypal doesn't work for you, you can support Behind The Black directly by sending your donation by check, payable to Robert Zimmerman, 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. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.

Capitalism in space: While this article focuses more on jabs taken by the head of British Airways against Richard Branson and Virgin Galactic, it contains one tidbit of real note:

Shares in Virgin Galactic have fallen by more than a quarter since it went public at the start of the week, wiping more than $600m (£464m) off its value.

On Monday, the initial offering price for stock in Virgin Galactic was $12.93. At the moment it is trading in the mid-$9 dollar range, with the low earlier today of $9.09. Overall the stock lost about 25% of its value in a week, indicating properly that its value had been inflated by Branson and his partners in that initial offering.

But then, inflating the value of Virgin Galactic has been Richard Branson’s mode of operation since 2004 when he founded the company. I continue to wish the company success, but have become exceedingly skeptical about it.

And to change my mind the company is going to have to finally actually accomplish something, rather than make empty promises that never come true.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *