Author argues SPCE was bought purely as a ticker-confusion play on a potential SpaceX IPO, not on Virgin Galactic fundamentals.
SPCE — LONG The author states they bought SPCE solely because a future SpaceX IPO would create ticker confusion between SPCX and SPCE, driving retail buyers into SPCE. The mechanism is retail search/name confusion increasing demand for the wrong ticker, with the catalyst being the SpaceX IPO event. The main stated risk is that the narrative breaks down when investors focus on Virgin Galactic's dilution and weak financials, as happened after Monday's crash.
We bought with one and only intention which is when SpaceX’s IPO happens confusion between SPCX/SPCE will increase SPCE’s value.