<ul><li><keyword id="334157" type="COMPANY" weightage="60" keywordseo="Reddit">Reddit</keyword>'s Wall Street Bets forum has dominated market headlines in 2021.</li><li>From GameStop to AMC Entertainment, Wall Street Bets has been a force driving many <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> higher.</li><li>These are the top 10 meme stocks Wall Street Bets is looking at right now.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesturce=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul><hr />It's paid to follow what stocks Reddit's Wall Street Bets crowd are talking about this year, as several have gone through epic rallies. From <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> in January to <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC Entertainment</a> last month, the 10.6 million-member forum has driven the conversation in so-called meme stocks that have exploded higher amid overwhelming demand from retail investors. Strong demand for stocks with shaky fundamentals has <a href="https://markets.businessinsider.com/news/stocks/gamestop-hedge-fund-losses-white-square-capital-closes-down-2021-6">led to several hedge fund blowups</a> that were caught on the opposite side of the trade betting against the company in question.GameStop's short-squeeze, in-part led by the Wall Street Bets crowd, led to <a href="https://www.businessinsider.com/melvin-capital-lost-53-percent-january-after-gamestop-shares-skyrocketed-2021-1">a more than 50% drawdown in multi-billion dollar hedge fund Melvin Capital.</a> Meanwhile, the sharp rally in struggling movie theater chain AMC Entertainment <a href="https://markets.businessinsider.com/news/stocks/amc-short-seller-losses-stock-price-surge-8-day-rally-2021-6">caused billions of dollar in losses for short-sellers in May and June.</a>As <keyword id="6371444" type="UNKNOWN" weightage="60" keywordseo="traders">traders</keyword> look to replicate the success of Wall Street Bets stocks, one data aggregator is compiling the most mentioned stocks on Reddit's forum. These are the top 10 meme stocks Reddit's <keyword id="9346197" type="UNKNOWN" weightage="60" keywordseo="wallstreetbets">WallStreetBets</keyword> forum is focused on right now, according to data compiled by <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">SwaggyStocks.</a> The list excludes mega-cap tech stocks and is based on mentions over the past 24 hours.10. Cleveland Cliffs Ticker: <a href="https://markets.businessinsider.com/stocks/clf-stock">CLF</a> Wall Street Bet Mentions Over Past 24 Hours: 89 Market Capitalization: $10.3 billion<div type="image" title="GettyImages 1228399692" height="750" width="1500" msid="84217415" hostid="261"></div>9. Virgin GalacticTicker: <a href="https://markets.businessinsider.com/stocks/spce-stock">SPCE</a> Wall Street Bet Mentions Over Past 24 Hours: 124 Market Capitalization: $10.7 billion<div type="image" title="Virgin galactic whiteknighttwo " height="1249" width="2500" msid="84217420" hostid="261"></div>8. BlackBerryTicker: <a href="https://markets.businessinsider.com/stocks/bb-stock">BB</a> Wall Street Bet Mentions Over Past 24 Hours: 145 Market Capitalization: $7.0 billion<div type="image" title="A shareholder uses his Blackberry while waiting for the Research In Motion annual meeting to begin in Waterloo, July 17, 2007." height="1138" width="2276" msid="84217425" hostid="261"></div>7. PalantirTicker: <a href="https://markets.businessinsider.com/stocks/pltr-stock">PLTR</a> Wall Street Bet Mentions Over Past 24 Hours: 192 Market Capitalization: $46.9 billion<div type="image" title="Palantir" height="1500" width="3000" msid="84217427" hostid="261"></div>6. Clean Energy FuelsTicker: <a href="https://markets.businessinsider.com/stocks/clne-stock">CLNE</a> Wall Street Bet Mentions Over Past 24 Hours: 196 Market Capitalization: $2.0 billion<div type="image" title="Clean Energy Fuels" height="1249" width="2500" msid="84217428" hostid="261"></div>5. SoFiTicker: <a href="https://markets.businessinsider.com/stocks/sofi-stock">SOFI</a> Wall Street Bet Mentions Over Past 24 Hours: 227 Market Capitalization: $13.9 billion<div type="image" title="sofi fintech" height="450" width="900" msid="84217430" hostid="261"></div>4. GameStopTicker: <a href="https://markets.businessinsider.com/stocks/gme-stock">GME</a> Wall Street Bet Mentions Over Past 24 Hours: 275 Market Capitalization: $14.4 billion<div type="image" title="GameStop" height="1249" width="2500" msid="84217431" hostid="261"></div>3. ContextLogicTicker: <a href="https://markets.businessinsider.com/stocks/wish-stock">WISH</a> Wall Street Bet Mentions Over Past 24 Hours: 289 Market Capitalization: $7.7 billion<div type="image" title="Wish CFO" height="799" width="1600" msid="84217432" hostid="261"></div>2. AMC EntertainmentTicker: <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> Wall Street Bet Mentions Over Past 24 Hours: 297 Market Capitalization: $26.1 billion<div type="image" title="AMC Entertainment" height="1250" width="2500" msid="84217433" hostid="261"></div>1. Clover HealthTicker: <a href="https://markets.businessinsider.com/stocks/clov-stock">CLOV</a> Wall Street Bet Mentions Over Past 24 Hours: 468 Market Capitalization: $4.3 billion<div type="image" title="2016 05 04T000000Z_967239957_D1AETCDLYFAA_RTRMADP_3_FUNDS SOHN.JPG" height="2007" width="4015" msid="84217434" hostid="261"></div>

These are the top 10 meme stocks Reddit's Wall Street Bets is talking about right now

<ul class="summary-list"><li><keyword id="6354356" type="UNKNOWN" weightage="60" keywordseo="Blackberry">BlackBerry</keyword> shares rose as much as 12% amid increased chatter from Redditors. </li><li>Shares have fallen back to single digits from their January high of $25.10.</li><li><keyword id="10688429" type="UNKNOWN" weightage="60" keywordseo="meme-stocks">Meme stocks</keyword>, including <keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword>, <keyword id="6358378" type="ORGANIZATION" weightage="60" keywordseo="amc">AMC</keyword>, and Virgin Galactic, also rallied Wednesday. </li></ul><a href="https://markets.businessinsider.com/stocks/bb-stock">BlackBerry shares</a> jumped as much as 12% Wednesday amid cheers from Redditors and a broader rally in meme stocks.As BlackBerry's stock price jumped, so did the number of mentions of it on <keyword id="334157" type="COMPANY" weightage="60" keywordseo="Reddit">Reddit</keyword>, according to HypeEquity data. The mentions were frequently accompanied by rocket ship emojis, which indicate a retail trader's sentiment that the stock price will "<a href="https://markets.businessinsider.com/news/stocks/reddit-wall-street-bets-lingo-guide-glossary-yolo-diamond-hands-2021-5-1030450777">go to the moon</a>."<a href="https://markets.businessinsider.com/news/stocks/millennial-reads-wall-street-bets-comedy-sells-reddit-inspired-gifts-2021-5-1030463515">On Wall Street Bets</a>, the Reddit thread that has ballooned to more than 10 million members following the GameStop craze earlier this year, one Redditor said, "Is it finally BB's turn?" And another, "Come on BB!!! $7 more dollars till I break even!!!" Others cheered for the stock to hit $10. "Break $10, and then you may rest," one person said.Redditors poured into <a href="https://markets.businessinsider.com/news/stocks/blackberry-nokia-stock-price-reddit-traders-wallstreetbets-gamestop-nok-bb-2021-2-1030124426">the telecom company</a> in January alongside other meme stocks like GameStop, AMC, and Nokia, in the hopes of <a href="https://markets.businessinsider.com/news/stocks/gamestop-amc-stock-price-short-sellers-reddit-meme-stocks-wallstreetbets-2021-5-1030467069">squeezing short sellers</a>. BlackBerry shares rose as high as $25.10 on January 27, before falling back down to single digits in the following months.Meme stocks have been in a broader rally this week. GameStop rose as much as 18% as AMC rose as much as 19%, both adding to gains earlier in the week.Virgin Galactic, the space tourism company founded by billionaire Richard Branson and beloved by Redditors, rallied as much as 8% Wednesday. The stock also rose Monday after the company had a <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-soars-after-launching-successful-flight-2021-5-1030458827">successful test flight</a> over the weekend. GameStop, AMC, BlackBerry, and Virgin Galactic were the most talked about stocks on Reddit, HypeEquity data show.On <keyword id="10658052" type="UNKNOWN" weightage="60" keywordseo="wall-street-bets">Wall Street Bets</keyword>, Redditors cheered the meme stock rally. One said, "<keyword id="4256726" type="PERSON" weightage="60" keywordseo="gme">GME</keyword> PLTR AMC BB FUBO ALL BACK IN PLAY ." Another said, "Bro the APES are in full attack mode on SPCE, GME, AMC and BB."

BlackBerry jumps 12% as Redditors use rocket ship emojis to cheer the stock price approaching $10

<ul class="summary-list"><li>Shares of space tourism company <keyword id="130495" type="COMPANY" weightage="60" keywordseo="Virgin-galactic">Virgin Galactic</keyword> have climbed 21% in just two days ahead of the company's planned flight Saturday.</li><li>Social media chatter on the company has increased 928%, Hype Equity data shows.</li><li>Redditors are mixed on whether the shares were set to plummet or rocket. </li></ul>Virgin Galactic shares rallied sharply for a second straight day on Friday amid mounting social-media chatter around the company's planned <keyword id="43001" type="PERSON" weightage="60" keywordseo="Rocket-launch">rocket launch</keyword> Saturday. The climbed as much as 5% in early trading, extending its two-day surge to 21%.SPCE has seen a 928% increase in social interest since Wednesday night, with most of the chatter surrounding the flight test, according to social tracking data from <a href="https://www.hypeequity.com/gamestop">Hype Equity</a>. On Reddit thread Wall Street Bets, sentiment on the stock has been mixed.One account said the company was "<a href="https://www.reddit.com/r/wallstreetbets/comments/nh12y5/spce_is_setting_themselves_up_to_fail_this_weekend/">setting themselves up to fail</a> this weekend" on account of poor weather conditions and past flight delays and failures. Others took a more optimistic view. One said the stock is "<a href="https://www.reddit.com/r/wallstreetbets/comments/nh81w4/spce_about_to_rocket_literally/">about to rocket</a>," a <a href="https://markets.businessinsider.com/news/stocks/reddit-wall-street-bets-lingo-guide-glossary-yolo-diamond-hands-2021-5-1030450777">reference to shares rallying</a>. The post was upvoted 81%. On top of increased social media chatter, shares <a href="https://markets.businessinsider.com/news/stocks/why-virgin-galactic-s-stock-is-trading-higher-again-today-1030454686">got a boost from UBS analyst Myles Walton</a>, who upgraded the stock to buy from neutral.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-20-infrastructure-stocks-crush-the-market-2021-5" target="_blank" rel="noopener">Buy these 20 infrastructure stocks set to crush the market as Congress prepares a multi-trillion-dollar deal, Raymond James says</a>The Las Cruces, New Mexico-based <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">spac</keyword>e tourism company went public in October 2019 with a SPAC backed by billionaire investor <keyword id="229877" type="PERSON" weightage="60" keywordseo="Chamath-Palihapitiya">Chamath Palihapitiya</keyword>. Since then, it's run into problems. Shares tumbled in February after the spaceflight company <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-test-flight-space-technical-checks-delayed-2021-2-1030078037?utm_source=markets&amp;utm_medium=ingestgest">delayed the test flight</a> of its SpaceShipTwo vehicle "Unity" because of electromagnetic interference. The planned flight had been the company's second attempt after its <a href="https://www.businessinsider.com/virgin-galactic-aborts-crewed-flight-of-its-rocket-powered-spaceship-2020-12?utm_source=markets&amp;utm_medium=ingestgest">rocket failed to reach outer space</a> in December.The test was rescheduled for May 22. The upcoming flight will be crewed by two pilots and carry research payloads as part of the NASA Flight Opportunities program, the <a href="https://www.virgingalactic.com/articles/virgin-galactic-confirms-upcoming-test-flight-of-vss-unity-in-may/">company said in a press release</a>. It will also test out other key aspects of the flight, such as work that was done to lower electromagnetic interference following the December test.<a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-falls-14-on-further-test-flight-delay-2021-2-1030129650">Insider previoulsy reported</a> that if the Saturday test is sucessful, the company will plan a second powered flight, which will be a key step before commercial flights can begin.Virgin Galactic tumbled again in March when Palihapitiya, the company's chairman, <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-chamath-palihapitya-sells-personal-stake-2021-3-1030155126">cashed out 6.2 million shares</a> of the company for $211 million. He'd sold 3.8 million shares in December as well. He and his business partner Ian Osborne, still indirectly own millions of shares via their investment vehicle, SCH Sponsor Corp, though. A month later, <keyword id="58954" type="PERSON" weightage="60" keywordseo="Richard-Branson">Richard Branson</keyword>, the founder of the company, sold over $150 million in Virgin Galactic stock, <a href="https://www.cnbc.com/2021/04/14/richard-branson-sells-over-150-million-in-virgin-galactic-stock.html">CNBC reported</a>. Virgin Galactic became a cult stock earlier this year, <a href="https://www.businessinsider.com/virgin-galactic-looks-like-newest-cult-stock-as-short-sellers-dig-in-2020-2">according to Reuters</a>, as retail traders drove the price to all-time highs in January and February. Short sellers have dug in on the stock though, as it's shorted at 15.52% of its float, <a href="https://www.marketbeat.com/stocks/NYSE/SPCE/short-interest/">MarketBeat data show</a>.

Chamath Palihapitiya-backed Virgin Galactic extends 2-day rally to 21% amid heightened social-media chatter around its upcoming rocket launch

<ul><li>The Wall Street Bets forum on Reddit - now 3 million members strong - is flexing its muscle against hedge funds.</li><li>The forum has sparked an epic short squeeze in shares of GameStop, which is now spilling over into other highly shorted <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>.</li><li>Detailed below are the 10 highly shorted stocks that are soaring at the expense of many hedge funds.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>An extreme level of <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">herd mentality led by Reddit's 3 million-member Wall Street Bets forum</a> has sparked an epic rally in the most shorted stocks in the market.The forum, members of which refer to each other as "degenerates" and create "meme stocks," first targeted shares of <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a>, buying deeply out-of-the-money calls that created unprecedented demand for shares.The ensuing 1,784% year-to-date rally in GameStop has led to massive losses for certain hedge funds that were short the stock, including Melvin Capital, which lost more than 30% and <a href="https://markets.businessinsider.com/news/stocks/steve-cohen-ken-griffin-invest-3-billion-gamestop-short-seller-2021-1-1030003305">received an emergency $2.8 billion investment from Point72's Steve Cohen and Citadel's Ken Griffin</a>.Now some traders <a href="https://markets.businessinsider.com/news/stocks/markets-most-shorted-stocks-rallying-as-reddit-day-traders-buy-2021-1-1030000844">are setting their eyes on other highly shorted stocks in the market</a>, hoping to replicate the success of GameStop and cause pain for Wall Street hedge funds that are on the opposite side of the trade.Detailed below are the 10 most shorted stocks that are soaring at the expense of many Wall Street hedge funds.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-below-pre-pandemic-levels-goldman-sachs-2021-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">GOLDMAN SACHS: These 22 stocks still haven't recovered to pre-pandemic levels - and are set to explode amid higher earnings in 2021 as the economy recovers</a>10. National Beverage Corp.Ticker: <a href="https://markets.businessinsider.com/stocks/fizz-stock">FIZZ</a> Percent of float short: 63% YTD rally: 131% <div type="image" title="fizz c.JPG" height="655" width="841" msid="80487084" hostid="261"></div>9. iRobot Corp.Ticker: <a href="https://markets.businessinsider.com/stocks/irbt-stock">IRBT</a> Percent of float short: 63% YTD rally: 146%<div type="image" title="irbtt.JPG" height="650" width="833" msid="80487087" hostid="261"></div>8. Virgin Galactic HoldingsTicker: <a href="https://markets.businessinsider.com/stocks/spce-stock">SPCE</a> Percent of float short: 64% YTD rally: 150%<div type="image" title="spceee.JPG" height="651" width="838" msid="80487090" hostid="261"></div>7. Children's PlaceTicker: <a href="https://markets.businessinsider.com/stocks/plce-stock">PLCE</a> Percent of float short: 65% YTD rally: 50%<div type="image" title="plce.JPG" height="657" width="839" msid="80487093" hostid="261"></div>6. Tanger Factory Outlet CentersTicker: <a href="https://markets.businessinsider.com/stocks/skt-stock">SKT</a> Percent of float short: 71% YTD rally: 110%<div type="image" title="skt charr.JPG" height="687" width="845" msid="80487094" hostid="261"></div>5. Bed Bath &amp; BeyondTicker: <a href="https://markets.businessinsider.com/stocks/bbby-stock">BBBY</a> Percent of float short: 84% YTD rally: 204%<div type="image" title="bbbby chart.JPG" height="653" width="836" msid="80487095" hostid="261"></div>4. MacerichTicker: <a href="https://markets.businessinsider.com/stocks/mac-stock">MAC</a> Percent of float short: 88% YTD rally: 144%<div type="image" title="mac.JPG" height="652" width="839" msid="80487096" hostid="261"></div>3. AMC NetworksTicker: <a href="https://markets.businessinsider.com/stocks/amcx-stock">AMCX</a> Percent of float short: 94% YTD rally: 104%<div type="image" title="amcx.JPG" height="653" width="841" msid="80487097" hostid="261"></div>2. Ligand PharmaceuticalsTicker: <a href="https://markets.businessinsider.com/stocks/gme-stock">LGND</a> Percent of float short: 106% YTD rally: 100%<div type="image" title="lgnd.JPG" height="648" width="831" msid="80487099" hostid="261"></div>1. GameStopTicker: <a href="https://markets.businessinsider.com/stocks/gme-stock">GME</a> Percent of float short: 261% YTD rally: 1,917%<div type="image" title="gmechar.JPG" height="652" width="841" msid="80487104" hostid="261"></div>All short interest data is as of December 31 and was sourced from Yahoo Finance. Year-to-date data is as of Wednesday's intraday highs.

10 highly shorted stocks are soaring as Reddit traders wage war against top Wall Street hedge funds

<ul class="summary-list"><li>A Special Purpose Acquisition Company (<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>) is a company created solely to merge or acquire another business and take it public — a cheaper, faster alternative to an initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword>).</li><li>Investors essentially write blank checks to SPACs, which can take up to two years to target and buy another firm.</li><li>SPACs offer individual investors the chance to get in on the ground floor of a potentially big stock, but are also highly risky.</li></ul><ul class="read-more-links"><li>A lot of individuals would love to get in early on an initial public offering (IPO) — a company's launch on the stock exchange — before the shares start jumping on fever-pitch demand. But pension funds and professionals usually get there first, leaving "retail investors," as Wall Street calls them, typically picking up the post-offering breadcrumbs — and often paying a higher price.But a back-door, formerly out-of-favor IPO approach known as a SPAC has recently roared back in popularity among entrepreneurs and venture capitalists. It may offer a new opportunity for small investors to get in on the action at the beginning.<h2>What is a SPAC?</h2>SPAC is an acronym for a Special Purpose Acquisition Company, basically a publicly traded firm that has no operations, no assets — other than a war chest of cash — and just one stated business plan: to eventually buy another company.A SPAC is generally formed by a group of investors, called sponsors, with a strong background in a particular industry or business sector. They raise funds from other investors, and use the money to acquire an existing, privately held company — and then take it public in an IPO.When they launch the SPAC, the sponsors generally either don't have a specific target in mind, or they're not ready to name it in order to avoid the extensive paperwork and disclosures required by the Securities and Exchange Commission (SEC).The early-bird underwriters and institutional investors, and the individual investors who generally come in later, typically have no idea exactly how the sponsors will spend the money. So early investors are basically relying on the sponsors' reputation in the hope of snagging a good investment.But they've got to be prepared to wait. Even after a SPAC goes public, it can take up to two years to pick and announce the target company it wants to acquire, or technically speaking, merge with (the corporate charter specifies the exact time frame, per SEC regulations). If it doesn't, the SPAC is liquidated, and funds it's raised are supposed to be returned to investors.All this uncertainty is one reason why most SPACs trade at only $10 a share. Of course, the assumption is that when, and if, they acquire a company and take it public, the share prices will soar. At this point, investors can cash out, or hold on for longer-term gains.<h2>How SPACs work </h2>If the SPAC set-up sounds like a situation ripe for abuse — it once was. Back in the 1980s, a lot of fraud surrounded these blank check companies, as they were then known. Many were purely shell companies, offering thinly traded<a href="https://www.businessinsider.com/what-are-penny-stocks" target="_blank" rel="noopener"> penny stocks</a> or "pink sheets." Often these firms either absconded with investors' cash or engaged in overvalued insider deals that left many investors with a bagful of nothing.Since then, however, the metamorphosis from blank check company to SPAC has involved more than just a name change. The SEC has tightened regulations and procedures for these ventures.Now, for example, a SPAC generally has to place the investor money in a trust or escrow account to keep it secure until the target company is publicly announced. At that point, if investors don't like the looks of the deal, they should be able to recover their funds.SPACs also have to register with the SEC, even if they're relatively small (which in the IPO universe means assets under $1 million).</li></ul><iframe title="SPACs are soaring in numbers and size" id="datawrapper-chart-SDcem" src="https://datawrapper.dwcdn.net/SDcem/4/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% ; border: none;" height="630"></iframe><h2>SPAC Pros and Cons</h2>Like any investment, SPACs have advantages and disadvantages.<h3>Advantages of SPACs</h3><ul><li>They're cheap. Many SPACs are priced at $10 a share, well within reach of retail investors. And they stay low for a while. "SPAC IPOs on average don't jump on the first day of trading," notes Jay R. Ritter, the Joseph B. Cordell Eminent Scholar Chair at the University of Florida's Warrington College of Business, who researches IPOs. "The average increase this year on the first day of trading has been 1.7%, so buying in the market might mean paying $10.17 or so."</li><li>They invest in hot areas. The new breed of SPACs focuses on sexy sectors in the tech or consumer fields. Promising startups like <a href="https://www.businessinsider.com/chamath-palihapitiya-spac-buys-opendoor-quiet-period-2020-9" target="_blank" rel="noopener">Opendoor</a>, <a href="https://www.businessinsider.com/clover-health-spac-plans-and-growth-projections-for-medicare-2020-10" target="_blank" rel="noopener">Clover Health</a>, and electric automaker Nikola are among the firms that have gone public via SPACs.</li><li>They're open to individual investors. Even though institutional investors usually go to the front of the line for SPAC offerings, the high number of shares sold makes it easier for smaller investors to get a piece of the action. </li></ul><h3>Disadvantages of SPACs</h3><ul><li>Blind investment. SPAC investors usually don't know how their money will be used — what the SPAC's target company is (often the sponsors don't know either). So the deal's impossible to evaluate.</li><li>Lag time. There can be a long lag between the time investors pump money into a SPAC and when it actually buys up a company and starts operations. Your money may sit for up to two years in an escrow account. If no acquisition happens, your funds are returned, but idling capital for that long may be painful.</li><li>Mixed track record. In a July 2020 report, Goldman Sachs analyzed the performance of 56 SPACs — primarily in the technology, industrials, energy, and financial segments, — that "merged" with their target companies beginning in January 2018. "During the one-month and three-month periods following the acquisition announcement, the average SPAC outperformed the S&amp;P 500 by 1 percentage point (pp) and 11 pp, respectively, and beat the Russell 2000 by 6 pp and 15 pp, respectively," the report notes. "However, the average SPAC underperformed both indexes during the 3, 6, and 12-months after the merger completion."</li></ul>Of course, some SPACs do better than that. For example, <keyword id="130495" type="COMPANY" weightage="60" keywordseo="Virgin-galactic">Virgin Galactic</keyword> Holdings (<a href="https://markets.businessinsider.com/stocks/spce-stock" target="_blank" rel="noopener">SPCE</a>) — a particularly high-profile offering — has appreciated 146% in the year since it went public via a SPAC in October 2019. <h2>Why SPACS are becoming popular</h2>SPACs embarked on their newly respectable road in the mid-2010s. Big-name entrepreneurs, hedge-fund managers, and celebrities like Richard Branson, Bill Ackerman, and Michael Jordan became involved in them, as did mutual fund companies like Fidelity and T. Rowe Price, and investment banks like Morgan Stanley, Credit Suisse, and Goldman Sachs.Their numbers swelled in 2020. As of early October 2020, SPACs have launched 128 IPOs, raising a total of $49.1 billion, according to SPAC Research, which gathers data on SPACs. That's up from 2019 when just 59 SPACs raised a total of $13.6 billion.Certainly, the COVID-19 pandemic has been a factor. SPACs tend to<a href="https://www.businessinsider.com/spac-blank-check-companies-explained-2020-5" target="_blank" rel="noopener"> fare better in periods of stock market decline</a> because of the way they work. Also, compared to a traditional IPO, SPACs offer certain advantages to sponsor-organizers and to the companies who want to go public. One is the streamlined disclosure requirements that save time, money, and trees.SPAC IPOs are further turbocharged because there are fewer people involved. A traditional IPO involves "multiple investors negotiating with issuers and underwriters simultaneously, about specific terms like the offering price, executive compensation, underwriter rights, and multiple other issues," says Tyler Gellasch, executive director of Healthy <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">Markets</keyword> Association, a nonprofit, investor educational coalition. "But in a SPAC, it's often just the sponsor and the target company at the table."So deals can move faster.<h2>How to invest in SPACS</h2>Getting into a SPAC is not as simple as buying regular equities: Hedge funds, mutual funds, and other deep-pocketed institutional investors typically find out about a new SPAC first. "It helps if a would-be investor has an existing relationship with a SPAC sponsor," says Tyler Gellasch. But if Michael Jordan isn't among your contacts, there are other ways to break into the world of SPACs:<ul><li>Your friendly stockbroker or wealth manager. Ask them to keep an eye out for offerings</li><li> The websites of IPO-oriented investment banks. One SPAC specialist, <a href="https://www.earlybirdcapital.com/" target="_blank" rel="noopener">Early Bird Capital</a>, lists companies that are actively seeking targets.</li><li> The NASDAQ website also lists upcoming IPOs, including SPACs, which can be identified by a ticker symbol that generally ends with a "U."</li><li> Industry associations like SPAC Research sometimes highlight S-1 filings, which give formal notice of a SPAC's intention to go public. </li></ul><h2>The financial takeaway</h2>A SPAC is definitely not "a 'widows and orphans' investment," according to Gellasch. "For one thing, you may be tying up your money for a year or more without knowing what the ultimate investment will be. The sponsor and institutional investors may know — at least generally — what they're looking to do with the funds, but the small investor will likely be in the dark.""Until a deal is announced, the investor is just hoping that a good merger will happen," Ritter adds. And of course, there are no guarantees as to returns after it does. SPACs are speculative animals. They tend to acquire growth companies — start-ups and fledgling firms — which, by their nature, are higher-risk than, say, established <a href="https://www.businessinsider.com/what-are-blue-chip-stocks" target="_blank" rel="noopener">blue-chip</a> companies.Still, SPACs offer smaller investors a way to get into the IPO game — if not up in front with the big players, at least not too far behind them.<h2>Related Coverage in <a href="https://www.businessinsider.com/investing-reference" target="_blank" rel="noopener">Investing</a>:</h2><ul class="read-more-links"><li><h3><a href="https://www.businessinsider.com/top-spac-underwriters-law-firms-investors-blank-check-volume-fees-2020-9" target="_blank" rel="noopener">Meet 16 bankers, lawyers, and capital providers helping engineer a $40 billion blank-check craze that's fast-tracking companies to public markets</a></h3></li><li><h3><a href="https://markets.businessinsider.com/news/stocks/ipos-top-largest-initial-public-offerings-all-time-ranked-cash-2020-7-1029373999" target="_blank" rel="noopener">Here are the 11 largest IPOs of all time</a></h3></li><li><h3><a href="https://markets.businessinsider.com/news/stocks/spac-etf-first-blank-check-begins-trading-stock-market-nyse-2020-10-1029640817" target="_blank" rel="noopener">First blank-check ETF begins trading as SPAC euphoria continues</a></h3></li><li><h3><a href="https://www.businessinsider.com/biggest-companies-to-go-public-through-a-spac-2020-10" target="_blank" rel="noopener">Going public through a SPAC isn't just for the unsexy startups anymore. Here are the 10 biggest deals in the blank-check craze in the last 5 years.</a></h3></li><li><h3><a href="https://www.businessinsider.com/top-spac-bankers-lawyers-cantor-credit-suisse-goldman-citi-fidelity-2020-10" target="_blank" rel="noopener">The top bankers, lawyers, and capital providers driving a $50 billion SPAC boom</a></h3></li></ul>

A SPAC is a high-risk but potentially profitable way to get in on the ground floor of a new stock — here's everything investors need to know

<img src="https://static-ssl.businessinsider.com/image/5da747134af9095a420bb5a9-2000/virgin richard branson.jpg" alt="virgin richard branson" /><ul><li><a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a> moved its spacecraft, the VSS Unity, from Mojave, California, to its commercial headquarters in New Mexico on Thursday, according to a press release. </li><li>Shares of the space-tourism company spiked 19% on Friday to an all-time high.</li><li>The VSS Unity will eventually shuttle paying customers to space and back. </li><li><a href="https://markets.businessinsider.com/stocks/spce-stock">Watch Virgin Galactic trade live on Markets Insider</a>.</li><li><a href="https://www.businessinsider.com/">Read more on Business Insider</a>.</li></ul><hr /><a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a> is one step closer to blastoff.The aerospace company's stock price surged as much as 19% on Friday to an all-time high of $28.23 per share, capping off five straight days of gains. The stock move came after Virgin Galactic <a href="https://investors.virgingalactic.com/news/news-details/2020/Virgin-Galactic-Welcomes-SpaceShipTwo-Unity-to-Spaceport-America-New-Mexico/default.aspx">announced Thursday</a> that it had relocated its SpaceShipTwo, named the VSS Unity, from Mojave, California, to its commercial headquarters at Spaceport America's Gateway to Space building in New Mexico. Moving the spacecraft is a key milestone for Virgin Galactic, as the VSS Unity will eventually shuttle paying customers to space and back from the Spaceport America facility. At the beginning of 2020, the company set a goal of sending its founder Sir Richard Branson into space this year, for this 70th birthday, CEO George Whitesides told <a href="https://www.cnbc.com/2020/01/09/virgin-galactic-ticket-sales-will-re-open-this-year-ceo-says.html">CNBC.</a> The company's stock has more than doubled so far in 2020, fueled in part by bullish ratings from Wall Street firms that <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-has-near-term-monopoly-in-space-tourism-analyst-2019-11-1028709430">recommend</a> investors buy shares, citing the <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-has-near-term-monopoly-in-space-tourism-analyst-2019-11-1028709430">company's near-term monopoly on space travel</a> and <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-investor-interest-nearing-tesla-morgan-stanley-2020-1-1028837079">comparing it to Tesla</a>.That hasn't stopped short-sellers from pouring $388 million into bets against Virgin Galactic, roughly 31% of the company's float, <a href="https://www.bloomberg.com/news/articles/2020-02-14/virgin-galactic-record-breaking-week-doesn-t-stop-short-sellers">Bloomberg reported</a>, citing data from financial-analytics firm S3 Partners. Short-sellers are down $214 million in mark-to-market losses since November, including a $10 million loss on Friday's stock spike, according to the report. Virgin Galactic has a waitlist with more than 600 people from 60 countries signed up to take a space-tourism flight as of September 30. Each ticket costs about $250,000 per person, and adds up to $80 million in total collected deposits and $120 million of potential revenue, Virgin Galactic confirmed in its fiscal <a href="https://www.virgingalactic.com/articles/virgin-galactic-announces-third-quarter-fiscal-2019-financial-results/">third-quarter earnings report</a>.Virgin Galactic became the <a href="https://markets.businessinsider.com/news/stocks/space-tourism-company-virgin-galactic-will-go-public-on-monday-2019-10-1028628607">first publicly traded space tourism stock</a> on the market in October 2019 when it began trading under the ticker "SPCE." Its main competitors are <a href="https://www.businessinsider.com/category/blue-origin?utm_source=markets&amp;utm_medium=ingest">Blue Origin</a>, owned by Jeff Bezos, and <a href="https://www.businessinsider.com/category/spacex?utm_source=markets&amp;utm_medium=ingest">SpaceX</a>, owned by Elon Musk.<a href="https://markets.businessinsider.com/stocks/spce-stock"><img src="https://static-ssl.businessinsider.com/image/5e46f6983b62b743da622366-870/screen shot 2020-02-14 at 23519 pm.png" alt="spce" /></a>

Virgin Galactic skyrockets 19% to an all-time high after the company moves its spacecraft to New Mexico

<img src="https://static-ssl.businessinsider.com/image/5e2869db24306a7e511206cc-2400/2019-10-28t170049z1653561311rc1e0ac31710rtrmadp3virgin-galactic-ipo.jpg" alt="Virgin Galactic IPO Richard Branson" /><ul><li><a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a> soared more than 14% Wednesday morning after <a href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a> said investor interest in the stock rivals that seen for Tesla.</li><li>The bank's analysts "are having more conversations" about Virgin Galactic than any other US stock they cover "with the possible exception of Tesla," according to a Wednesday note.</li><li>Morgan Stanley noted that the company's shares are approaching its $22 price target, but added that the stock "still has more than 250% upside potential" to the analysts' $60 bull-case target.</li><li><a href="https://markets.businessinsider.com/stocks/spce-stock">Watch Virgin Galactic trade live here</a>.</li></ul><hr />Richard Branson's <a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a> spiked more than 14% in early Wednesday trading after <a href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a> analysts said the stock's investor interest in on par with Tesla.The company is already nearing the $22 price target set by Morgan Stanley in December, and is up 95% from its first day of trading in late October. Yet analyst Adam Jonas notes his $60 per share bull-case implies an additional 250% climb, and that a "significant increase" in investor interest can drive the stock higher in its first year of public trading.The investment bank has noticed "a materially greater frequency" of investors who "understand the pitch" and want to learn more about the company's position in the space-travel industry. The analysts "are having more conversations on SPCE" than any other US stock they cover "with the possible exception of Tesla," they wrote Wednesday.Tesla has been among the most talked-about stocks since its June 2010 initial public offering, as investors bet on whether the electric-car company could turn a profit and push into a new vehicle sector. It recently retook the crown <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-most-shorted-us-beats-apple-highest-short-interest-2020-1-1028823046">as the most-shorted stock in the US</a>, yet the automaker soared to a record high Wednesday as improving sentiment on Wall Street and the opening of its Shanghai Gigafactory propped up share prices through January.Virgin Galactic's stock is already up about 65% year-to-date, massively outperforming the S&amp;P 500's 3% gain in the same period. The jump is even beating Tesla's 40% gain in 2020.Virgin Galactic's Wednesday run sets it up for an eighth consecutive record close.Virgin Galactic also stands to profit from investors' "greater appreciation" of hypersonic travel and the company's opportunity in the industry, Morgan Stanley said. The bank initiated coverage on Virgin Galactic shares on December 9, saying that the company's greater investment opportunity comes from an expansion into hypersonic travel. The rapid point-to-point service could drive as much as $800 billion in annual sales by 2040, according to Morgan Stanley.The analysts maintain an "overweight" rating on the company's stock, along with their $22 price target.Virgin Galactic traded at $18.89 per share as of 1:15 p.m. ET Wednesday.The company has a consensus price target of $19 from the three analysts covering the stock, according to Bloomberg data.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/us-housing-market-strength-existing-home-sales-two-year-high-2020-1-1028836790">Existing-home sales in the US soar to best pace in nearly 2 years</a><a href="https://markets.businessinsider.com/news/stocks/bubble-financial-markets-sovereign-debt-jpmorgan-jamie-dimon-davos-interest-2020-1-1028836398">Jamie Dimon says financial markets' only bubble is in sovereign debt</a><a href="https://www.businessinsider.com/top-brands-in-influencer-marketing-list-youtube-instagram-tiktok-2020-1">The top 17 brands in influencer marketing that are innovating and pushing the industry forward</a><img src="https://static-ssl.businessinsider.com/image/5e288f4a62fa812f2476210d-731/screen shot 2020-01-22 at 10655 pm.png" alt="SPCE" /><a href="https://www.businessinsider.com/intelligence/future-of-retail?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=tesla&amp;itm_campaign=future-of-retail-2"><img src="https://static.businessinsider.com/image/5dcb11a63afd37083c1cbb6b" alt="Exclusive FREE Slide Deck: Future of Retail: Delivery &amp; Fulfillment by Business Insider Intelligence" style="width: 100% !important" /></a>

Virgin Galactic rockets higher after Morgan Stanley says interest in the stock matches Tesla

<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5db1b9c1dee019103e756c36-2400/vp01-2glidinghome.jpg" border="0" alt="Virgin Galactic" data-mce-source="Virgin Galactic" /></div></div></div><ul><li>Virgin Galactic will list on the New York Stock Exchange on Monday, October 28 under the ticker "SPCE." </li><li>To go public, the space-tourism company merged with Social Capital Hedosophia, a venture capital firm. The merger was approved by shareholders Wednesday, according to an SEC filing. </li><li>Virgin Galactic has a waitlist of more than 600 people ready to be among the first space tourists.</li><li><a href="https://www.businessinsider.com">Read more on Business Insider</a>.</li></ul><hr />Starting Monday, investors can trade space tourism on the New York Stock Exchange for the first time ever, thanks to Virgin Galactic. The space-tourism company run by billionaire <a href="https://www.businessinsider.com/virgin-group-richard-branson-net-worth-spending-2018-10">Sir Richard Branson</a> has been approved to merge with Social Capital Hedosophia, a venture capital firm that helps technology companies list on public markets, according to a <a href="https://www.sec.gov/Archives/edgar/data/1706946/000119312519272712/d817766d8k.htm">Wednesday SEC filing</a> from the company. The merger is expected to close Friday. On Monday, Social Capital's ticker, "IPOA," will become Virgin Galactic's, and trade under "SPCE." Virgin Galactic <a href="https://markets.businessinsider.com/news/stocks/richard-branson-space-tourism-virgin-galactic-going-public-2019-7-1028337880">announced in July that</a> it intended to merge with Social Capital Hedosophia to go public and become the first "publicly traded commercial human spaceflight company," <a href="https://www.virgingalactic.com/articles/virgin-galactic-and-social-capital-hedosophia-announce-merger-to-create-the-worlds-first-and-only-publicly-traded-commercial-human-spaceflight-company/">according to a release.</a> The deal valued the combined company at $1.5 billion and gave Social Capital Hedosophia a 49% stake to Branson's 51%. Branson told <a href="https://www.cnbc.com/2019/10/16/virgin-galactic-under-armour-spacesuit-collection-for-space-tourists.html">CNBC in an interview</a> earlier this month that the public listing was coming soon when he unveiled <a href="https://www.businessinsider.com/under-armour-designed-spacesuits-virgin-galactic-photos-2019-10">Virgin Galactic's new space suits</a>, created by Under Armour for passengers going to space. Since its founding in 2004, Virgin Galactic has raised more than $1 billion to develop the first commercial service to take people to space. The company currently has a waitlist with more than 600 people from 60 countries signed up to take a space-tourism flight. Each ticket costs about $250,000 per person, and adds up to $80 million in total collected deposits and $120 million of potential revenue, Virgin Galactic <a href="https://www.virgingalactic.com/articles/virgin-galactic-and-social-capital-hedosophia-announce-merger-to-create-the-worlds-first-and-only-publicly-traded-commercial-human-spaceflight-company/">said in a release</a>. The company expects that it will earn about $600 million in annual revenue and $270 million in Ebitda in 2023. By 2023, Branson also hopes that Virgin Galactic will be sending people to space <a href="https://www.businessinsider.com/branson-virgin-galactic-people-space-every-32-hours-2019-9">every 32 hours</a>.While it may be the first to list publicly, Virgin Galactic isn't the only space-tourism company in the world. Its main competitors are <a href="https://www.businessinsider.com/category/blue-origin">Blue Origin</a>, owned by Jeff Bezos, and <a href="https://www.businessinsider.com/category/spacex">SpaceX</a>, owned by Elon Musk.Read more: <a href="https://www.businessinsider.com/stock-market-earnings-season-options-trades-from-jpmorgan-marko-kolanovic-2019-10" data-analytics-position="1">JPMorgan's quant guru presents his 10 best trades to profit from the peak of a monumental earnings season</a>

Virgin Galactic will become the first space-tourism company to list on the New York Stock Exchange next week

<ul class="summary-list"><li><keyword id="11970141" type="UNKNOWN" weightage="60" keywordseo="jim-chanos" source="Orion">Jim Chanos</keyword> has ridiculed meme-stock buyers and warned about the asset-price boom.</li><li>The short seller and <keyword id="11970142" type="UNKNOWN" weightage="60" keywordseo="kynikos-associates" source="Orion">Kynikos Associates</keyword> boss has also questioned <keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword>, Virgin Galactic, and crypto.</li><li>Here are 14 of Chanos' best tweets.</li></ul>Jim Chanos has <a href="https://markets.businessinsider.com/news/stocks/jim-chanos-short-seller-meme-stocks-gamestop-amc-greedy-entitled-2021-8">blasted</a> retail investors as greedy and entitled, warned the current market boom dwarfs the dot-com bubble, and sounded the alarm on cryptocurrencies in recent months.The veteran short seller and Kynikos Associates boss has also criticized Tesla CEO <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>, dismissed China's regulatory crackdown as predictable, and compared Warren Buffett's business model to <keyword id="11970143" type="UNKNOWN" weightage="60" keywordseo="short-selling" source="Orion">short selling</keyword>.Chanos - who shot to fame for anticipating Enron's collapse, and now <a href="https://markets.businessinsider.com/news/stocks/jim-chanos-amc-short-blasts-retail-day-traders-meme-stock-2021-08">holds short positions</a> against Tesla and <keyword id="11911241" type="UNKNOWN" weightage="60" keywordseo="amc" source="Orion">AMC</keyword> Entertainment - <a href="https://reports.adviserinfo.sec.gov/reports/ADV/137563/PDF/137563.pdf">tweets</a> using the handle <a href="https://twitter.com/WallStCynic">@WallStCynic</a>.<h2>Here are 14 of Chanos' best tweets, lightly edited for clarity:</h2>1. "Asset prices are up across the board in 2021 (even bitcoin), and the S&amp;P 500 is less than 3% off its all-time high. The sense of entitlement that investors have today is … something." (<a href="https://twitter.com/WallStCynic/status/1417469797596553216">July 20, 2021</a>)2. "<a href="https://markets.businessinsider.com/stocks/gme-stock">$GME</a> is up 780% and <a href="https://markets.businessinsider.com/stocks/amc-stock">$AMC</a> is up 1,470% this year. $AMC has tripled in the past three months. This is not outrage, it is greed. The newest generation of entitled retail 'investors' must win all the time, or they cry and blame 'them.'" (<a href="https://twitter.com/WallStCynic/status/1423337346884329476">August 5, 2021</a>)3. "The $AMC apes are openly discussing shorting the Robinhood IPO to 'stick it to them.' Anyone else see the irony there?" (<a href="https://twitter.com/WallStCynic/status/1410942916239953922">July 2, 2021</a>)4. "Scientists believe the '<a href="https://www.businessinsider.com/dragon-man-china-fossil-related-humans-neanderthals-2021-6?r=US&amp;IR=TIR=T">Dragon Man</a>' went extinct trading YOLO options on Robinhood." (<a href="https://twitter.com/WallStCynic/status/1408919853235281920">June 26, 2021</a>)5. "I was there as well … what is much crazier now is that the concept and fraud-y stocks are 5-10x the market cap today than in early 2000. And burning much more cash now. Also, no crypto/housing speculation in 1999-2000. Finally, there were no $20-30 billion 'short-squeeze' plays then." (<a href="https://twitter.com/WallStCynic/status/1421542356281659397">July 31, 2021</a>)6. "If only we could combine the worst aspects of the the 1997-99 dot-com bubble with those of the 2003-06 residential real estate bubble..." "Hold my beer!" - commenting on companies helping people buy homes through crowdfunding or using their parents' investments as collateral. (<a href="https://twitter.com/WallStCynic/status/1012728657960456192">June 29, 2018</a>)7. "The number of outright scams going on in crypto right now is breathtaking. <a href="https://twitter.com/hashtag/GoldenAgeOfFraud?src=hashtag_click">#GoldenAgeOfFraud</a>" (<a href="https://twitter.com/WallStCynic/status/1397657074897674244">May 26, 2021</a>)8. "God save us from yet another 16-year-old crypto CEO in a hoodie claiming they are changing the world." (<a href="https://twitter.com/WallStCynic/status/1425870449246941186">August 12, 2021</a>)9. "You mean to tell me that a totalitarian Communist government can change industries by edict overnight? Interesting. $BABA $DIDI $EDU $GOTU $TAL" - commenting on the Chinese government reining in Alibaba, Didi, and other major companies. (<a href="https://twitter.com/WallStCynic/status/1418537254008541185">July 23, 2021</a>)10. "Do you know which companies don't rally 27% after successful product tests? Companies that people trust. $SPCE" - commenting on Virgin Galactic's stock soaring after a successful test flight (<a href="https://twitter.com/WallStCynic/status/1396892291307118594">May 24, 2021</a>)11. "Tesla 'FSD' does not exist. Hundreds of billions of market cap depend on $TSLA and Musk maintaining this fiction. Their driver-assist software remains at Level 2, by their own admission. And despite all the miles-driven everyone points to. These are facts." - questioning the reality of Tesla's full self-driving system. (<a href="https://twitter.com/WallStCynic/status/1378349013930549249">April 3, 2021</a>) 12. "All hail the infallible God of Mars … all unfavorable outcomes are due to the efforts of his technically incompetent knights. Further developments shall come forth in two months, three months maybe. $TSLA" (<a href="https://twitter.com/WallStCynic/status/1413986439277293571">July 10, 2021</a>)13. "Lol, Toyota unveiled their robot four years ago. And it wasn't a man in a leotard." - ridiculing Tesla for unveiling its humanoid robot using a person dressed up as a robot. - (<a href="https://twitter.com/WallStCynic/status/1428692277027868676">August 20, 2021</a>)14. "Buffett's main business (insurance) is short-selling. It's the biggest short-selling business there is." - Chanos explained in a <a href="https://twitter.com/WallStCynic/status/857331952025731076">previous tweet</a> that shorting is borrowing money at an uncertain cost, and Buffett's Berkshire Hathaway invests the premiums it collects from its insurance operations without knowing exactly how much it will pay out in claims. (<a href="https://twitter.com/WallStCynic/status/1357713850703970306">February 5, 2021</a>)

Short seller Jim Chanos has mocked meme-stock buyers, dismissed crypto, and warned the current market boom dwarfs the dot-com bubble. Here are 14 of his best tweets.

<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5dd6d833fd9db275907da128-2000/vssunityreachesspace.jpg" border="0" alt="Virgin Galactic" data-mce-source="Virgin Galactic" /></div></div></div><ul><li>Credit Suisse is recommending investors buy shares in the newly public space tourism company <a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a>. </li><li>The firm's analysts initiated coverage of the company on Thursday with and "outperform" rating, citing its "near-term monopoly" in the commercial space industry. </li><li>Virgin Galactic entered the <a href="https://markets.businessinsider.com/news/stocks/space-tourism-company-virgin-galactic-will-go-public-on-monday-2019-10-1028628607">public markets</a> in late October through a merger with Social Capital Hedosophia, a venture capital firm run by Chamath Palihapitiya. </li><li><a href="https://markets.businessinsider.com/stocks/spce-stock">Watch Virgin Galactic trade live on Markets Insider</a>.</li></ul><hr />Investors should buy newly public <a href="https://markets.businessinsider.com/stocks/spce-stock">Virgin Galactic</a> because of its "near-term monopoly" in the budding space tourism industry, Credit Suisse analyst wrote in a note to clients on Thursday. "Our bullish view reflects the near-term monopoly SPCE offers in an industry (commercial space tourism) where public investment opportunities are scarce," the firm wrote. "We view this as a classic tech-driven high demand, low supply story with high barriers to entry."Credit Suisse initiated coverage of Virgin Galactic with an "outperform rating and $12.43 price target. That figure represents around a 39% premium from where shares traded on Thursday afternoon. The lack of current offerings for space tourism enables "sticky pricing," as well as the potential for price discrimination, the analysts found. That dynamic - in combination with low-operating costs thanks to the firm already having invested in the required infrastructure - creates strong economics for its business model. "With no near-term competition, growth should be fueled by expanding supply," the analysts wrote. The firm determined its price target for Virgin Galactic through a blended valuation including an equally-weighted enterprise multiple and discounted cash flow. The valuation also includes a 5% weighting for a potential catastrophic event such as a fatal crash, which was assigned a dollar-value of zero. According to the bank's forecast, Virgin Galactic could generate $278 million in EBITDA in 2024 on revenue of $576 million. "Losses should dissipate rapidly as flight activity rises. Per flight ticket revenue is around 3x variable mission cost, which would drive very attractive incremental margins," the analyst added. Credit Suisse is the second firm behind Vertical Research Partners to initiate coverage on Virgin Galactic. Vertical Research has a $20 price target and "buy" rating on the stock, according to Bloomberg data. Virgin Galactic became the first publicly-traded <a href="https://markets.businessinsider.com/news/stocks/space-tourism-company-virgin-galactic-will-go-public-on-monday-2019-10-1028628607">space tourism</a> company in late October by merging with Social Capital Hedosophia, a venture capital firm run by Chamath Palihapitiya. <div class="KonaFilter image-container display-table"><div><div class="image"><a href="https://markets.businessinsider.com/stocks/spce-stock"><img src="https://static-ssl.businessinsider.com/image/5dd6d8a4fd9db27541714a7c-733/screen shot 2019-11-21 at 13332 pm.png" border="0" alt="SPCE stock" data-mce-source="Markets Insider" /></a></div></div></div>

You Searched For "SPCE" and got 10 results

These are the top 10 meme stocks Reddit's Wall Street Bets is talking about right now

Matthew Fox

BlackBerry jumps 12% as Redditors use rocket ship emojis to cheer the stock price approaching $10

Natasha Dailey

Chamath Palihapitiya-backed Virgin Galactic extends 2-day rally to 21% amid heightened social-media chatter around its upcoming rocket launch

Natasha Dailey

10 highly shorted stocks are soaring as Reddit traders wage war against top Wall Street hedge funds

Matthew Fox

A SPAC is a high-risk but potentially profitable way to get in on the ground floor of a new stock — here's everything investors need to know

Martin Daks

Virgin Galactic skyrockets 19% to an all-time high after the company moves its spacecraft to New Mexico

Carmen Reinicke

Virgin Galactic rockets higher after Morgan Stanley says interest in the stock matches Tesla

Ben Winck

Virgin Galactic will become the first space-tourism company to list on the New York Stock Exchange next week

Carmen Reinicke

Short seller Jim Chanos has mocked meme-stock buyers, dismissed crypto, and warned the current market boom dwarfs the dot-com bubble. Here are 14 of his best tweets.

Theron Mohamed

Credit Suisse says investors should buy Virgin Galactic because of its 'near-term monopoly' in commercial space tourism

Daniel Strauss