Virgin Galactic Holdings (SPCE) stock was set to rise further Monday morning after the space tourism business said on Friday that it had cleared a regulatory obstacle in order to take passengers on suborbital spaceflights.
The stock was up 7.8% in premarket trade on Monday morning, following a 39 percent gain on Friday. The stock finished at $55.91 on Friday, more than doubling in value year to date.
Virgin said last week that its space-launch license had been expanded by the Federal Aviation Administration. Although the government does not regulate the safety of space-tourism flights like Virgin’s, the license is a stamp of approval for the company’s launch protocols.
The company has additional test flights planned before seats open to paying passengers.
Blue Origin LLC, another space-tourism company, plans a high-profile launch next month that will include founder Jeff Bezos as one of its first space passengers.
