Hyperdrive
Virgin Galactic Has No Flights or Profits But Investors Love It
- Company sees first passenger flights, with Branson, in 2020
- Stock has climbed almost 200% this year as hedge funds dive in
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Virgin Galactic Holdings Inc. is a very sparse enterprise when it comes to the usual benchmarks, things like sales, profits or customers.
What Richard Branson’s space transport company does have, however, are hedge funds and other investors who are convinced it will establish a new space-tourism industry and fly people across continents at hypersonic speeds.