VORB - Virgin Orbit rallies after getting green light to launch in Brazil

Virgin Orbit Holdings (NASDAQ:VORB) rallied early on Monday after the company announce that it was formally granted an operator’s license to allow LauncherOne launch operations in Brazil. The license was granted to Virgin Orbit Brasil Ltda., which is a newly formed and wholly owned Brazilian subsidiary dedicated to bringing the LauncherOne air-launch rocket system to the Alcântara Launch Center. The company said the formation of the VOBRA entity for dedicated Brazilian space activities is designed to bring an important new capability to the country and economic value to the region. Virgin Orbit's (VORB)  launch system is expected to give Alcântara the opportunity to become one of the only continental spaceports in the world functionally capable of reaching any orbital inclination. While the Alcântara Launch Center has hosted several launches of suborbital rockets, the facility has not yet been used to reach Earth orbit yet.  LauncherOne could potentially conduct the first domestic orbital-class

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Virgin Orbit rallies after getting green light to launch in Brazil