- Virgin Galactic is now worth $ 6.7 billion, despite reporting just $ 3 million in revenue last year.
- The space tourism stock is worth $ 1 billion more than Macy’s, which isn’t sexy – but is profitable.
- This disparity exposes everything wrong with the stock market.
Think Tesla’s bewildering rally is the best evidence that the stock market is getting uncomfortably bubbly? Richard Branson’s Virgin Galactic has a message for you: Hold my beer.
The space tourism stock (NYSE: SPCE) has surged roughly 588% since ringing in , pushing its market cap to $ 6.7 billion on Wednesday afternoon.
Space Is Sexy – Dividends Aren’t
As noted by Compound Capital Advisors founder and CEO Charlie Bilello, that makes Virgin Galactic more than $ 1 billion more valuable than department store chain Macy’s (NYSE: M)
That’s frankly ridiculous.
(The iconic department store is more than (years old, with , (employees and $