No qualifying author-owned investment thesis was confirmed in this post.
The author explicitly states they did not perform due diligence and describes the thesis as 'objectively idiotic', failing to provide a fundamental investment rationale.
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This thesis is objectively idiotic but I bought some SPCE calls ($4 exp. Jan 27) not because I did any DD on the company but because the ticker confusion might be real as we get closer to IPO.
SpaceX plans to IPO in June under the likely ticker SPCX. Virgin Galactic trades under SPCE. Awfully similar.
Seen this before: ZOOM (a random Chinese stock) ran 1,500% when Zoom Video IPO'd in 2019. SIG L went 5,000% or so when retail confused it for Signal the app.
Virgin Galactic has a going concern warning. Pre real revenue. Dilutes shares aggressively. If it rips, management has every incentive to drop a secondary offering and cap the upside. This is not advice.
The thesis is dumb on paper and that is exactly why it could work. Or not.