Virgin Galactic is a high-risk bet with extreme asymmetry: at a roughly $190M market cap, any real revenue changes everything. It reopened ticket sales at $750K, validating premium demand, with Spaceship 1 testing in April, a second ship completed and commercial cadence building. About 400 flights a year would imply roughly $300M of revenue. Risks are real: about $338M of cash against a $90-95M quarterly burn, plus execution risk and delays. If it works, it will reprice sharply. x.com