<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

<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.

<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

<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>

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

Ben Winck

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

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

Carmen Reinicke

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

Daniel Strauss