New York, May 29, 2026, 18:02 (EDT)
Virgin Galactic Holdings Inc. jumped 36.42%, ending the session at $6.18 after a huge spike in volume to 175.9 million shares—way over the 50-day average of 11.3 million. The stock posted its sixth straight advance and set a 52-week high, beating out bigger aerospace players like Boeing, RTX, and Lockheed Martin. The Nasdaq Composite was up 0.20% and the Dow gained 0.72% Friday.
Virgin Galactic made the move after saying its VSS Unity prototype got back in the air for glide flights over Spaceport America in New Mexico. Those unpowered flights are used to test handling and landing. According to the company, the flights are for pilot and ground crew training ahead of trials for Virgin’s next spaceship.
Virgin Galactic spaceline president Mike Moses called Unity a “real-world proxy” for the company’s new spaceship and said putting the proven vehicle to use should give teams “greater confidence” as they press on with flight tests. New-spaceship glide tests are set for the third quarter, the company said, with rocket-powered tests and commercial flights targeted for the fourth quarter. Virgin Galactic
The rally is putting Virgin Galactic’s cash position back in the spotlight. CEO Michael Colglazier had said during the May 14 Q1 call that the company was “on track” for Q3 flight tests and a Q4 spaceflight, and said spending was falling. At March 31, Virgin Galactic had $251 million in cash, cash equivalents and marketable securities, with revenue of $0.2 million, a net loss of $65 million and negative free cash flow of $93 million. Free cash flow is what’s left after subtracting capital spending from cash operations. Virgin Galactic
Virgin Galactic raised $11 million by selling 4 million shares under its at-the-market offering program this quarter. The at-the-market setup lets a company sell shares out in the open market as needed and is often used by cash-burning firms but can dilute shareholders.
Virgin Galactic said Thursday it will add a new research-use flight, announcing Operation Period’s OP-01 mission is set for 2027. The nonprofit will study menstruation in microgravity conditions on a suborbital flight. “Expands the scope” of possible research in space, Virgin Galactic’s director of system analysis and research Amber Favaregh said. Virgin Galactic
The U.S. District Court for the Eastern District of New York gave its first OK to settle shareholder derivative lawsuits, according to a Thursday filing. The court set a final settlement hearing for July 28.
Virgin Galactic said it reached a proposed settlement calling for a $2.75 million payment funded by insurers and three years of governance reforms. Defendants denied any wrongdoing or the claims in the derivative actions, the company added.
Virgin Galactic’s stock jump is leaving little margin for error. The company’s latest quarterly filing says it’s still in pre-commercial service with no spaceflight revenue. It has spent a lot of cash on operations and capital expenses and expects high costs before new spaceships are finished and launched. If testing slips, or if it needs more funding or issues more shares, the market could turn fast.
Virgin Galactic shares traded at $6.15 after hours, down 0.49%, according to MarketScreener. Now, investors are watching if the Unity flights help the company stick to its new vehicle testing schedule and launch commercial service before money and patience run out.
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