Virgin Galactic becomes first space tourism company to land on Wall Street

NEW YORK -- Virgin Galactic landed on Wall Street Monday, debuting its listing on the New York Stock Exchange (NYSE) in a first for a space tourism company.

Founder Richard Branson appeared on the floor of the NYSE to ring a bell marking the beginning of trading, as fireworks jetted behind him.

"We have pioneered several space milestones, including sending our chief astronaut trainer as the first passenger to space on a commercial spaceship," Virgin Galactic said on Twitter.

"Today, we tick off another first -- now anyone can invest in the future of space."

The company, which will trade under the initials SPCE, ended down 0.34 percent at $11.75, with a valuation of $969 million.

Virgin Galactic joined the NYSE after merging with Social Capital Hedosophia, which was already listed. This allowed it to skip the formal IPO process and bring in $450 million.

Founded in 2004, Virgin Galactic has spent years developing its space program, and after a fatal accident in 2014, has twice crossed the barrier into the final frontier.

The company plans to offer weightless flights to six passengers at a time, at $250,000 (225,750 euros) a ticket for the first customers from the Summer of 2020, though it has yet to begin commercial launches. 

The client-astronauts will be able to float around the ship's cabin and look out of portholes to see the curvature of the Earth, all while surrounded by the blackness of space. 

More than 600 people have already signed up for the journey.

Branson is joined in the new space race by Blue Origin, founded by Amazon chief Jeff Bezos, which wants to offer clients a few minutes of weightlessness aboard a small rocket that takes off vertically.

Tesla's Elon Musk has founded SpaceX, with an eye on long-range space travel.

source: news.abs-cbn.com

Space probe finds vast void between Saturn's rings

WASHINGTON - The unmanned Cassini spacecraft, after completing two passes in the vast, unexplored area between Saturn's rings has discovered not much else there, researchers at NASA said.

Scientists have been surprised to find that not all that much -- not even space dust -- lies between Saturn's iconic rings.

"The region between the rings and Saturn is 'the big empty,' apparently," said Cassini Project Manager Earl Maize of NASA's Jet Propulsion Laboratory in Pasadena, California, after the probe's first pass.

The rings themselves are made of fast-moving particles of ice and space debris.

The 22-foot-tall (6.7 meter) Cassini spacecraft launched in 1997 and began orbiting Saturn in 2004.

Cassini made a first pass to explore what lies between the rings in late April and a second one on May 2, at a speed of about 77,000 miles per hour relative to the planet.

The gap between the rings and the top of Saturn's atmosphere is about 1,500 miles (2,400 kilometers).

Cassini is expected to make a total of 22 dives between the rings and the planet before making a death plunge into the gas giant in September.

Cassini is a 20-year-old joint mission of NASA, the European Space Agency and the Italian Space Agency.

source: news.abs-cbn.com