The stock of Virgin Galactic soared on Friday after the company announced that its next spaceflight test will include founder Sir Richard Branson. The trip is set to launch on July 11 from Virgin Galactic’s operations headquarters in New Mexico, with two pilots guiding spaceship VSS Unity carrying Branson and three Virgin Galactic staff. The mission represents not only Branson’s long-awaited return to space, but also a bid to beat fellow billionaire Jeff Bezos to the finish line. Last month, he announced that his business, Blue Origin, will fly its first passenger spaceflight on July 20. In premarket trading, Virgin Galactic stock soared as much as 28% from its previous close of $43.19 per share. The stock has risen 82 percent this year, but has had violent swings, rising above $60 a share in February before plummeting to roughly $15 in May and then rebounding. They were up 22% in early trade before the market opened. In his Under Armour spacesuit, Sir Richard Branson. Virgin Galactic is a company that specializes in space travel This will be Virgin Galactic’s fourth development trip, with passengers evaluating the cabin of VSS Unity in advance of the company’s intentions to start flying tourists and researchers in early 2022. Virgin Galactic has announced that the spaceflight would be livestreamed for the first time, with a feed available on Twitter, YouTube, and Facebook. About 600 tickets for future trips have been reserved, with prices ranging from $200,000 to $250,000 each. “When we return from space,” Branson said in a video on Thursday, “I will unveil something extremely exciting to give more people the chance to become an astronaut.” Reversing the timetable On May 22, 2021, shortly after takeoff on its third spaceflight, VSS Unity fires its rocket engine. Virgin Galactic is a company that specializes in space travel Virgin Galactic, which was founded in 2004, has spent years putting its spaceship system through its paces, with several setbacks and a deadly disaster in 2014 postponing the company’s intentions to start flying paying passengers. VSS Unity takes off from a carrier aircraft powered by jets and accelerates to more than three times the speed of sound. The spacecraft then spends a few minutes in microgravity over 80 kilometers altitude — the official definition of space in the United States — before slowly gliding back to Earth and landing on the Spaceport America runway. Branson upgrades the flight. Virgin Galactic leadership announced three additional spaceflight tests after completing its third spaceflight test to date on May 22. The first flight would transport four passengers to test the cabin, the second would transport Branson, and the third and final flight would transport members of the Italian Air Force for astronaut training. However, Branson’s announcement on Thursday reorganizes that timeline, making his flight the first to take off. Virgin Galactic also got a vital FAA authorization that allowed the business to fly passengers on future spaceflights, prompting the rescheduling. In a recent interview with CNBC, Virgin Galactic CEO Michael Colglazier stated that safety is “the primary consideration.” “When we have all the boxes checked and all the protocols in place,” Colglazier said, the business will make an announcement regarding its next flight. Because it will be 50 days since its May 22 trip, Virgin Galactic must prepare its spaceship faster than ever before in order to launch by July 11. Between spaceflights, Virgin Galactic has turned around VSS Unity in 71 days. After a successful NS-15 flight and landing in April 2021, Jeff Bezos inspects the New Shepard rocket booster on the landing pad. Origin of the color blue Bezos’ business has also been planning for the introduction of its first passengers for years. The New Shepard rocket from Blue Origin has completed more than a dozen successful uncrewed spaceflights, the most recent of which took place in April. Bezos’ brother Mark, the winner of a $28 million public auction, and famed aerospace pioneer Wally Funk will be flying beside him. CNBC Pro can help you become a better investor. Get stock recommendations, analyst calls, exclusive interviews, and CNBC TV access. To begin your free trial, simply fill out the form below./n
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