Yesterday, British billionaire entrepreneur and Mick Jagger-wannabe Richard Branson (allegedly) travelled into space onboard his Virgin Galactic ($SPCE) spacecraft marking a major milestone for commercial space tourism.
While most the world applauded, Jeff Bezos went full rich dude petty mode, and we’re here for it. Bezos was set to be the first to ride his own spacecraft, Blue Origin’s New Shepard, into space on July 20th, until Branson moved up his scheduled launch to yesterday to snake the claim himself.
Bezos’s Blue Origin tweeted out an all-time petty graphic arguing that space doesn’t truly begin until you pass the Kármán line at 100km above sea level, which apparently “96% of the world’s population recognizes”. First off, no one with a net worth under $10B knew what the Kármán line until this tweet, but lets fight over it. Since the Virgin Galactic craft didn’t quite reach that distance, their astronauts have an astricts next to their name. That’s right, Bezos is dropping astricts bombs, likening Branson’s space adventure to LeBron’s bubble title*. Amazing.
The fun doesn’t stop there. Bezos took time to flex about having the largest windows in space (lol wut?). And pissing over Branson’s measly “airplane-sized” economy class windows. Window shaming is back baby!
Okay, finance stuff. SPCE is up over 80% this year, but trading down 13% today off news of a new stock offering. Side note: SPCE is an awful ticker. My mind keeps assuming this is a spice company. But spice companies slinging coriander & paprika tend to be profitable, and well, commercial space tourism isn’t quite that.
SPCE will be a fun trade though. With Bezos set to launch into space on July 20th, you could see a momentum boost across the industry, with a rising tide raises all ships type of moment. If you’re in the gambling mood, SPCE could be a ride worth taking over the next eight days.
PS. How mad is Elon right now?! All his friends are launching into space and he’s out in Bastrop, TX digging holes.
What I’m listening to: John Mayer’s first album since 2017 is dropping on Friday. Until then, we’re jamming all things John this week, starting with the very underrated As/Is live album.
Obvious Disclaimer: I am not a financial advisor. All opinions expressed in this article are solely my own opinions and do not reflect the opinions of any other entities of mine. This article is for informational purposes only and should not be replied upon for investment decisions, advice, or recommendations. I may maintain positions in any of the securities mentioned this article.