Shares of space tourism company Virgin Galactic (NYSE:SPCE) have escaped gravity today after it announced that commercial flights for ticket-holders will commence in August.
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The monthly flights will be beginning after a research flight takes the Italian Air Force and National Research Center of Italy specialists into space at the end of this month. Notably, ticket-holders have waited for commercial flights to begin for over a decade.
The company bagged government approval in 2021 and undertook its final test flight last month. It sold nearly 800 tickets over the years with the price of a ticket now hovering at $450,000.
Overall, the Street has a $3.81 consensus price target on Virgin Galactic alongside a Moderate Sell consensus rating. Shares of the company have now gained nearly 30.8% over the past five sessions.
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