Virgin Galactic Stock Soars, Cramer Compares It to 'Non-Fungible Token Airplane'

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Virgin Galactic ( (SPCE) - Get Report) shares soared on Monday as investors got excited after the company completed its first space flight in over two years, over this past weekend.

The space tourism company, whose stock price peaked over $60 in February has had a turbulent time this year. The company's chairman Chamath Palihapitiya's action of dumping around $213 million of his stake in February and its founder Richard Branson's decision to sell some stock in April had a major repercussion. 

The company that went public with $10 per share in October 2019  nosedived to around $15 per share in May.

Cramer Quote 0524

Jim Cramer, "I find myself thinking what's wrong with this market is that there's still a considerable cohort that wants to buy something like this (Virgin Galactic)," said Cramer, in TheStreet Live with Katherine Ross on Monday. "It's like a non-fungible token airplane as far as I am concerned."

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