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What Goes Upa?¦ Can Keep Going Up. Take a Ride With SPCE Stock.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Are you ready? Because tomorrow, Virgin Galactic (NYSE:SPCE) will fly its thrill-seeking founder, Richard Branson, into space to test the company’s “private astronaut experience.” This journey would be a huge deal for anybody, but it’s even more so for SPCE stock holders, many of whom have been riding the SPCE stock rollercoaster since day one.
Indeed, Branson’s Virgin Galactic has been working since before 2010 to make space travel a reality.
This is truly an occasion 10 years in the making. It’s a big deal.
Virgin Galactic’s stock has been trading strongly into that launch. Not everybody’s bullish, of course, with more than 22% of SPCE stock sold short. Now those shorts are covering, anticipating a short-squeeze event. Which likely explains the double-digit gap up in the SPCE stock price from Thursday morning to Friday’s close. There’s a lot of hype surrounding SPCE going into its landmark (space-mark?) event, which looks like a classic example of short-termist rumor buying, culminating in a day-of selloff once Branson is space-bound.
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