'Even Spaceships Must Return to Earth': Morgan Stanley Warns Investors on Virgin Galactic Stock
Take your pick of metaphors – rocketing, earth shattering, stratospheric - Virgin Galactic stock has been surging this year, up more than 200%. The Mojave-based company now has a market capitalization of $7.2 billion even though it only generated $3 million in revenue last year.
It's been a dream of scientists for generations: actually studying samples of Martian soil for signs of life. With Monday's announcement of President Donald Trump's 2021 budget for NASA, that dream appears likely to be funded and on the cusp of becoming reality.
The more than $25 billion budget is a 12% increase from last year's and would be NASA's largest in decades, investing in a variety of ongoing scientific, technological and aerospace goals. It is in contrast to the proposed deep cuts that would hit domestic programs, like food stamps, federal housing assistance, and Medicaid, federal disability and student loan programs.
- Upfront Summit will bring together top names in media, tech and finance from singer John Legend to Quibi CEO Meg Whitman
- Sustainability, climate change, white privilege and streaming are on the agenda
- The Takeaway: Upfront set to attract investors backed with billions in capital
Upfront Ventures kicks off its technology and startup conference on Wednesday, and this year's lineup includes everyone from Clippers chairman Steve Ballmer to Netflix content chief Ted Sarandos. And, given the event is in Hollywood's back yard, musician John Legend, Ice Cube, and even Paris Hilton are set to speak.