This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Virgin Galactic Wins Space Race
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos. For those who don’t know, Richard Branson is the Virgin Galactic’s founder and the famous business magnate. He is the main competitor of Jeff Bezos (the ex-CEO of Amazon), the founder of another space company – Blue Origin. Both men are trying to be the one who will fly to space first. If Virgin Galactic wins this race, its stock price will skyrocket!
By the way, Jeff Bezos plans to make a flight already on July 20. It's neck and neck!
Why should you buy SPCE?
Virgin Galactic (SPCE) is probably one of those companies that have a huge potential to grow. Some analysts believe it may increase its current value 10 times. Why? The company is engaged in one of the most promising industries of the future: space tourism. Investing in space stocks today is the same thing as investing in internet stocks back in the 1990s. Think about it.
On June 25, Virgin Galactic claimed that the Federal Aviation Administration gave the company a license to fly passengers on future spaceflights, and Virgin will start sending paying passengers to the space starting from 2022.
Virgin Galactic has dropped below $44.00 after hitting the high of $57.50. However, don’t be misguided, the news came out when the stock market was closed. It will open at 16:30 GMT+3. Thus, the price is likely to open with a gap up. The breakout above $50.00 will push the stock to the next round number of $55.00 and then to $60.00. However, today the volatility will be quite high and the prices may go back and forth.
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Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
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The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.