Virgin Galactic stock surged 19% in early Monday trading after unveiling a partnership with NASA to train astronauts. The space-travel company will create a new "astronaut readiness program" for sending private missions to the International Space Station, according to a press release. The announcement didn't reveal how much NASA will pay the company in the partnership, but agency administrator Jim Bridenstine tweeted Friday that NASA will issue requests for additional information this week. Watch Virgin Galactic trade live here.
Virgin Galactic leaped as much as 19% in early Monday trading after announcing a partnership with NASA to train astronauts for trips to the International Space Station. The Space Act Agreement allows Virgin Galactic to create a new "astronaut readiness program" for those purchasing commercial space missions. The space-travel company will also buy spots on flights to the ISS. Private space missions can range from commercial citizen trips to government-funded research missions, the company said. "We are excited to partner with NASA on this private orbital spaceflight program, which will not only allow us to use our spaceflight platform, but also offer our space training infrastructure to NASA and other agencies," Virgin Galactic CEO George Whitesides said in a press release. Read more: A notorious market bear says inexperienced 'zombie investors' are fueling a stock-market bubble — and warns that even the Fed won't be able to prevent another 30% crash NASA will issue requests for additional information on the matter later this week, administrator Jim Bridenstine said in a Friday tweet. Monday's announcement didn't detail how much the agency will pay Virgin Galactic in the partnership. The company has yet to begin private space flights. Rival firm SpaceX reached a milestone on May 31 when it became the first private company to send passengers to the ISS. Virgin Galactic made its public trading debut in late October and traded roughly 42% higher since then. The company remains largely owned by founder Richard Branson and chairman Chamath Palihapitiya. The offering took place through a merger with Palihapitiya's investment firm Social Capital Hedosophia. The move allowed Virgin Galactic to go public with a $2.3 billion market valuation without launching a traditional initial public offering. Virgin Galactic closed at $15 per share on Friday, up 31% year-to-date. Now read more markets coverage from Markets Insider and Business Insider: Tesla will spike another 20% as it extends its lead against rival automakers, Jefferies says The IPO market is back after its March freeze. Here's what experts say revived it and where it's going from here. A 30-year market veteran explains why we're in 'one of the nutsiest bubbles in the history of bubbledom' — and warns of an 'underwater' economy for the next several years Join the conversation about this story » NOW WATCH: Here's what it's like to travel during the coronavirus outbreak
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Summary List Placement Virgin Galactic rallied as much as 14% to its highest level since late...Summary List Placement Virgin Galactic rallied as much as 14% to its highest level since late February as the company further prepared for its first manned test flight. The spacetravel firm announced on December 1 that it aims to launch its first test trip from Spaceport America in New Mexico as soon as Friday. Virgin Galactic tweeted Sunday that SpaceShipTwo Unity was paired with...
Watch live: SpaceX's Crew Dragon spaceship is docking 4 astronauts to the International Space Station
Summary List PlacementSpaceX rocketed four astronauts into Earth's orbit on Sunday, kicking off its most ambitious...Summary List PlacementSpaceX rocketed four astronauts into Earth's orbit on Sunday, kicking off its most ambitious spaceflight yet for NASA. The mission, called Crew-1, is set to bring Mike Hopkins, Victor Glover, and Shannon Walker of NASA, along with Soichi Noguchi of the Japanese Aerospace Exploration Agency, to the International Space Station. They're scheduled to stay there for six months, constituting the longest human...
RESILIENCE SOARS: SpaceX just launched 4 astronauts into orbit for NASA, kicking off the longest spaceflight in US history
Summary List Placement Under the cover of darkness, four astronauts departed planet Earth on Sunday in SpaceX's...Summary List Placement Under the cover of darkness, four astronauts departed planet Earth on Sunday in SpaceX's Crew Dragon spaceship. The astronauts — Mike Hopkins, Shannon Walker, and Victor Glover of NASA, along with Soichi Noguchi of the Japanese Aerospace Exploration Agency — launched from Cape Canaveral at 7:27 p.m. ET, bound for the International Space Station. The Crew Dragon capsule they're riding in detached...