What's Going On With Virgin Galactic Stock Today?

Virgin Galactic Holdings Inc SPCE shares are taking off Monday. The stock appears to be reacting to the company's announcement that it will return to space in late May to validate the commercial astronaut experience ahead of the company's first commercial flight.

What To Know: Virgin Galactic will send a crew of four mission specialists to space later this month on the Unity's 25th flight, which will act as the final assessment of the full spaceflight system and astronaut experience before commercial services commence in June. 

The company's first commercial flight, "Galactic 01," is currently scheduled for late June. 

"Returning to space is what we have all worked towards ... After this flight we will begin flying out customers to space," said Mike Moses, president of Spaceline Missions and Safety for Virgin Galactic. 

As of the end of 2022, the company had approximately 800 reservations for its commercial space tourism product. 

Related Link: Virgin Galactic Intends To Launch Space Tourism In Q2

Virgin Galactic is set to report first-quarter results after the market close on Tuesday. The company is expected to report a loss of 52 cents per share on quarterly revenue of $1.16 million, according to estimates from Benzinga Pro.

SPCE Price Action: Virgin Galactic has a 52-week high of $8.55 and a 52-week low of $2.98.

The stock was up 8.25% at $3.91 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Virgin Galactic.