Virgin Galactic shares heat up engines, company reopens seat reservations

Virgin Galactic (SPCE.US) opened additional seat reservations aboard its spacecraft with a minimum deposit of $150,000. The total cost of a ticket is currently $450,000. The company aims to collect 1,000 reservations by the end of the year and begin commercial flights.

Management has also given detailed plans around the organisation of the service itself and what the company's customers will acquire with their ticket to space. The amenities include, among others, a luxurious stay of several days in a resort with astronauts, access to a database of information and photos from the trip and top-quality services during training before the flight into space. The personalised and marketing sales move should come as no surprise as current Virgin Galactic CEO Michael Coglazier spent years managing Disney parks. The company wants to make sure that the flight with Virgin will be remembered by its customers for the rest of their lives.

The move by the company is seen as professional and confirms what the board has said so far about launching space tourism services on a large scale. Despite criticism from Bernstein analysts. The firm reduced its forecast target price for SPCE.US from its previous $22 to $10.

Nevertheless, the information provided by management was received euphorically by the market. Branson's shares are currently gaining nearly 12% in pre-session trading, confirming the company's huge speculative potential.

Virgin Galactic (SPCE.US), H4 interval. Source: xStation5

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Virgin Galactic shares heat up engines, company reopens seat reservations

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