Dennis Dick On Virgin Galactic's Stock: 'What Do We Have To Look Forward To?'

On Monday’s PreMarket Prep, Dennis Dick, and Spencer Israel discussed the large gap up in shares of Virgin Galactic Holdings, Inc. SPCE at the open of the premarket session, and why the subsequent drop was not a good sign. 

“This stock traded almost $60 at 4:00 am. I think this is as good as it gets,” Dick said. “We often talk about ‘Is this trade now as good as it gets?’ I think it is. What do we have to look forward to? Everybody’s been looking forward to this event. Stocks always want something to look forward to. Now we look forward to people actually going into space and maybe they get some revenue and that's cool and everything. But the hype of that first blast is all kind of gone. So it's kind of like the hangover after the party now."

Shares of Virgin Galactic opened at $49.55 and were trading down 15% from Friday’s close as of early Monday afternoon. 

“4:00 am trading, if you’re going in there and you’re buying stocks up 20%, you’re usually doing it backward.”

For the full discussion on SPCE, click here or watch it at 5:50 in the clip below. 

Other Stocks Discussed On The Show

Other stocks also discussed include:

  • Maxar Technologies Inc MAXR 11:10

  • Astra Space Inc ASTR 14:54

  • Tencent Music Entertainment Group TME 16:20

  • Alibaba Holding Corp BABA 17:00

  • JD.com JD 18:05

  • Carnival Corp CCL 20:55

  • Las Vegas Sands Corp LVS 21:50

  • Marriott International Inc MAR 20:35

  • Marriot Vacations Worldwide Corp VAC 23:08

  • ViacomCBS VIAC 25:46

  • Discovery Communications Inc DISCA 26:00

  • FuboTV Inc (NYSE: FUBO 28:26

  • Walt Disney Co DIS 30:15

  • PepsiCo, Inc. PEP 43:14

  • Goldman Sachs Group Inc GS 45:50

  • Celldex Therapeutics, Inc. CLDX 56:10

  • MER Telemanagement Solutions Ltd. MTSL 57:25

  • Medley Management Inc MDLYQ 58:10

  • Moving iMage Technologies Inc MITQ 1:09:40

  • Pop Culture Group Co Ltd CPOP 1:11:04

  • Sentage Holdings Inc SNTG 1:11:42

  • Jiuzi Holdings Inc JZXN 1:13:15

  • Unicycive Therapeutics Inc UNCY 1:15:40

  • AMTD Digital (HKD) 1:16:40

  • Phillips Edison & Company (PECO) 1:17:25

  • Membership Collective (MCG) 1:18:10

  • F45 Training (FXLV) 1:19:09

  • Sight Scienes (SGHT) 1:20:18

  • Sera Prognosis (SERA) 1:21:12

  • Stevanato Group (STVN) 1:22:00

  • Bridge Investment Group (BRDG) 1:21:10

  • Blend Labs (BLND) 1:23:30

  • Inspira Technologies (IINN) 1:25:10

  • TScan Therapeutics (TCRX) 1:27:00

Featured Guests

Tim Quast, Market Structure Edge 37:16

Twitter: https://twitter.com/_timquast 

Matt Hammond, IPOWarriors 1:03:43

https://www.Ipowarriors.com 

Twitter: https://twitter.com/warrioripo
 

Click here to listen to the show.

 

PreMarket Prep is a daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin. You can watch PreMarket Prep live every day from 8-9 a.m. ET here. The replay can be found on Benzinga's YouTube channel, and the podcast is on iTunes, SpotifyGoogle PlaySoundcloudStitcher and Tunein.

Meet the Hosts:

Dennis Dick
Joel Elconin

Spencer Israel

 

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Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Posted In: benzingatvDennis DickPreMarket PrepVirgin GalacticLong IdeasNewsPenny StocksShort IdeasSmall CapMarketsTrading Ideas

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