Virgin Galactic (SPCE: $17.50, up 16%) hit the stratosphere today following this morning’s announcement of the signing of a Space Act Agreement with NASA’s Johnson Space Center for private orbital spaceflight to the International Space Station (ISS).
This is big news. The company will develop a “private orbital astronaut program.” Virgin Galactic will find and train individuals that want to pay to visit the International Space Station. This is for people that want to go into space as well as on government-sponsored scientific research missions.
Virgin Galactic already has been signing up individuals for its private space missions. It sold 600 tickets, collecting $80 million, and took small deposits from another 400 people since the first quarter of 2020.
This is a company that is turning science fiction into reality. This deal moves the company ever closer to becoming a serious revenue generator.