Why Virgin Galactic Stock Is Popping Off Today

Virgin Galactic Holdings Inc SPCE shares are trading higher by 9.4% to $1.86 Friday afternoon on upward momentum after the company on Thursday announced it has completed its sixth space mission in six months and its tenth mission overall.

What Happened?

This most recent mission, known as Galactic 05, involved converting Virgin Galactic's spaceship into a suborbital lab for space-based scientific research for the second time.

The company's CEO, Michael Colglazier, emphasized in a press release the importance of providing researchers with access to a microgravity environment to expand human knowledge and scientific discoveries.

The company plans to proceed with post-flight analysis, routine inspections and pre-flight readiness procedures for its next commercial space mission, Galactic 06, scheduled for January next year.

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According to data from Benzinga Pro, SPCE has a 52-week high of $6.61 and a 52-week low of $1.38.