Virgin Galactic spikes 19% after inking partnership with NASA to train astronauts
. Monday's announcement didn't detail how much the agency will pay Virgin Galactic in the partnership.
The company has yet to begin private space flights. Rival firm SpaceX reached a milestone on May 31 when it became the first private company to send passengers to the ISS. Virgin Galactic made its public trading debut in late October and traded roughly 42% higher since then. The company remains largely owned by founder Richard Branson and chairman Chamath Palihapitiya.
The offering took place through a merger with Palihapitiya's investment firm Social Capital Hedosophia. The move allowed Virgin Galactic to go public with a $2.3 billion market valuation without launching a traditional initial public offering.Now read more markets coverage from Markets Insider and Business Insider:
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