Virgin Galactic Holdings (SPCE) started trading in late 2017 and is co-founded by Sir Richard Branson, suggests Bryan Perry, growth stock expert and editor of Hi-Tech Trader.
The company is a vertically integrated aerospace and space travel company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles. It is developing a spaceflight system designed to offer customers a unique and transformative experience.
SPCE provided an update following its recent test flight on December 12, 2020 that came up short of expectations. During the test flight, the rocket motor did not fire due to the ignition sequence not completing and therefore not achieving its objective of reaching outer space.
Following this event, the pilots conducted a safe landing and return, as planned, to Spaceport America, New Mexico. The company is preparing further test flights for early 2021.
Shares of SPCE were trading at $35 just prior to the December 12 test flight and have since retreated to $25 where they trade today. The technical pattern is just now showing signs for reversing higher where I want to get involved.
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My top speculative idea last year was Guardant Health (GH), which rose 65%. The stock is trading to new all-time highs as the market for liquid biopsy testing continues to receive growth adoption by cancer treatment centers.
Historically, the presence of cancer has been confirmed via tissue biopsy and examined under a microscope. One in five tissue biopsies fails to provide sufficient material for analysis.
Liquid biopsy overcomes this drawback by virtue of using blood samples, is virtually painless, is easily administered, considerably less expensive and highly accurate on one blood draw. 2020 revenues grew by 32% and 2021 revenues are forecast to grow by 36% to $390 million. I'm looking for further gains.
