By Adam Sharp U.S. stocks are starting to look frothier. Just consider Virgin Galactic (NYSE: SPCE), the space tourism company founded by Richard Branson.
Virgin Galactic shares are up from $7.22 in early December to $36.39 as of this writing. The company now trades at an eye-popping $6.9 billion valuation.
So what happened? Why did this space stock go parabolic? Did the company successfully complete its first trip to the moon, or some other amazing feat?
Nope, Virgin Galactic still hasn’t flown any tourists into space.
Apparently, the stock is soaring on the news that the company is moving closer to launching paying customers into space after …read more
