Virgin Galactic Soars 23% at Market Open, Extending Last Week's Strong Performance

June 1st, Bitget market data shows Virgin Galactic (SPCE) opened with a 23% surge, following a 36% rally last Friday to push its short-term gains over 200%. The key drivers behind this move are as follows: - SpaceX IPO Hype: Reports of a SpaceX IPO at an enormous valuation have been swirling in recent sessions. Retail investors are treating SPCE as a de facto "SpaceX concept stock," sparking a meme-driven buying spree. - Company-Specific Catalyst: The VSS Unity spacecraft recently completed a successful glide test, clearing the path for commercial space trips in 2026. This marks a major milestone for Virgin Galactic, which had been grounded for two full years prior to this test. - Frenzied Trading Activity: Last Friday, SPCE’s trading volume spiked to nearly 180 million shares—well above its daily average. Retail investor enthusiasm has reached a fever pitch, fueling the recent price surge. As a reminder, Virgin Galactic is the only publicly traded pure-play commercial space tourism company globally, keeping it tied to the red-hot space sector trend. That said, the firm remains unprofitable and highly volatile in the short term. Investors are advised to keep a close eye on upcoming SpaceX developments and Virgin Galactic’s official flight timeline updates.