VORB - 1 Growth Stock Down 80% to Buy Right Now
Deutsche Bank analysts value the global space launch market at around $8 billion in 2022 and $35 billion by 2030, and Richard Branson's commercial satellite launch venture, Virgin Orbit (NASDAQ: VORB) , wants to earn its share of that market. But it will be more difficult for Branson's brainchild to reach its full potential after a mission failure earlier this month.
Whether the market's reaction was justified is debatable, but this isn't the final chapter in Virgin Orbit's story. The outcome of an in-progress investigation -- and any follow-up launches -- could give Virgin Orbit investors a reason to shoot for the moon.
In the pre-market hours of Jan. 10, Virgin Orbit stock plunged 22.3% as traders absorbed some unfortunate news: The company's LauncherOne rocket's payload of nine satellites failed to reach its target orbit. As Virgin Orbit's news release explained it, the "system experienced an anomaly, ending the mission prematurely."
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1 Growth Stock Down 80% to Buy Right Now