Virgin Galactic Holdings Inc (SPCE)

[fr8]

IMHO, officers leaving and Chamath leaving make you want to question what is going on.

Chamath is getting hosed in the market with all his SPACs and PIPE investments. When you are the primary force behind IPO B, C, D, E, F and a ton of PIPES and the market does a correction, then you have to raise capital in a big way. Perhaps that is why he sold so much.

The idea of SPCE is a great one. Start with tourism and evolve into point-to-point travel. Any two points on earth in 3 or so hours.

Perhaps the question a lot of people are having is: does the engineering work? It would be smart for Branson to have a public interview with his top engineers and assure the public that the engineering does work. Also give us a plan on what they intend to do instead of some kind of vague test ride in a month or two with flights in 2022.

The public and shareholders want assurance that everything is OK coming from the mouth of people that know what they are talking about. How about some NASA engineers?

Incidentally, the SPAC from VIrgin was a flop. Everybody thought Branson was going to IPO Virgin Orbit which would have been an intelligent choice. It looks like he was just trying to socialize and rub elbows with the rich tech people. He needs to explain this one in detail. So far it is just vague hand waiving.