Virgin Galactic stocks go public on October 28
Buyer beware: With the official completion of a merger of Virgin Galactic with the venture capital company Social Capital Hedosophia this week, it will be possible to buy stock in the company as early as Monday, October 28.
The space-tourism company run by billionaire Sir Richard Branson has been approved to merge with Social Capital Hedosophia, a venture capital firm that helps technology companies list on public markets, according to a Wednesday SEC filing from the company.
The merger is expected to close Friday. On Monday, Social Capital’s ticker, “IPOA,” will become Virgin Galactic’s, and trade under “SPCE.”
As I say, buyer beware. Virgin Galactic has spent fifteen years spending a lot of investment capital without achieving what it promised to do years ago, fly tourists on suborbital space flights. Along the way we’ve seen Richard Branson make a lot of exciting announcements about how he is about to fly in space, none of which ever happened. Instead, they crashed their spaceship, killing one pilot.
If you want to invest money in this company you should be aware of their so far poor track record.
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Buyer beware: With the official completion of a merger of Virgin Galactic with the venture capital company Social Capital Hedosophia this week, it will be possible to buy stock in the company as early as Monday, October 28.
The space-tourism company run by billionaire Sir Richard Branson has been approved to merge with Social Capital Hedosophia, a venture capital firm that helps technology companies list on public markets, according to a Wednesday SEC filing from the company.
The merger is expected to close Friday. On Monday, Social Capital’s ticker, “IPOA,” will become Virgin Galactic’s, and trade under “SPCE.”
As I say, buyer beware. Virgin Galactic has spent fifteen years spending a lot of investment capital without achieving what it promised to do years ago, fly tourists on suborbital space flights. Along the way we’ve seen Richard Branson make a lot of exciting announcements about how he is about to fly in space, none of which ever happened. Instead, they crashed their spaceship, killing one pilot.
If you want to invest money in this company you should be aware of their so far poor track record.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID 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. Every one of those 2020 conclusions has turned out right.
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.
In a sense, Branson, et al, seem to be taking that old bit of boilerplate warning verbiage from financial services ads – “past performance is no guarantee of future results” – and trying to turn it into a weird sort of sales pitch.
A few days of IPOA activity:
10/25/2019 $11.79 6,461,498 $10.75 $11.81 $10.66
10/24/2019 $10.60 2,224,608 $10.72 $10.805 $10.52
10/23/2019 $10.50 1,777,669 $10.62 $10.62 $10.25
10/22/2019 $10.52 1,677,444 $10.46 $10.92 $10.4211
10/21/2019 $10.38 980,081 $10.41 $10.41 $10.36
10/18/2019 $10.38 3,283,877 $10.38 $10.39 $10.34
10/17/2019 $10.35 3,075,058 $10.36 $10.39 $10.35
10/16/2019 $10.36 2,322,148 $10.42 $10.42 $10.35