The world's first publicly traded space tourism company is struggling

While Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin have tended to dominate the intergalactic conversation in recent years, Richard Branson’s business has been plugging away in the space for over two decades now. However, Virgin Galactic is yet to post a profitable quarter since it became the first publicly traded space tourism company in October 2019, racking up over $2.1 billion in losses.

Meanwhile, shares are also down 99.5% from their 2021 peak, on the back of the cash burning and major delays for the company’s outer space ambitions.