Wall Street sure is in love with Richard Branson and his pioneering space tourism firm.
And who could blame them? I can, for one.
Branson’s company looks good on paper, of course.
After all, by all accounts, Branson is charming, charismatic, and intelligent. He’s a renowned adventurer and successfully founded Virgin Atlantic, a respected airline
And when his space tourism company, Virgin Galactic Holdings Inc. (SPCE), went public in October 2019, it caused quite a stir as an early mover in a groundbreaking new industry estimated to be worth $20 billion by 2030.
But Wall Street has been silent on one key metric. SPCE has been a poor performer in a generally strong market.
Indeed, since hitting a peak on February 11, the stock is off roughly 62% while the S&P 500 gained a respectable 7.6%.
With that in mind, today I want to recommend that you not invest in SPCE.
Instead, I have identified a storied space leader that recently tripled the overall market’s return as it turned in a stellar earnings report last week.