Virgin Galactic (NYSE:SPCE) was the first space tourism business to debut on the stock exchange. It enjoyed a stellar first year on the back of the tall claims by its management in ushering in a novel space economy. Consequently, its stock surged over 96% in its first year. However, subsequent delays, regulatory roadblocks, and the incompetence of its management have made its stock price tank to new lows. Currently, it's a speculative play at best, with an iffy future ahead. Therefore, we are bearish on SPCE stock. The original launch date was postponed due to technical difficulties, and a series of lousy management decisions caused subsequent delays.
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