Newer cases of COVID-19 have been brought down by half in New Mexico after they reached an all-time high of 3,675 as reported on the 19th of November. And since the number of cases is significantly going down, it all bodes well for the SPCE stock to flourish post- Thanksgiving. For the uninitiated, the shares of this company suffered a massive hit a couple of weeks back when New Mexico brought out an announcement in the form of health order. This order called for biotech companies to come forward in order to blunt the rise in COVID-19 cases by relieving the stress on hospitals.
How Did The Health Restrictions Affect the SPCE Stock?
It was further announced that for the coming two weeks, every nonessential activity in the area would be entirely restricted by the state. And this led to the SPCE Stock suspending preparations for the newest test flight of the spaceplane that was christened as the VSS Unity. Without saying, this has led to massive delays in the company’s move to initiate commercial operations- one that would allow the company to start collecting revenues for its flights towards space tourism.
Now, with the restriction about to be lifted, SPCE stock might just find its foothold again. With the trends working in the coronavirus hold, there is a major possibility that New Mexico might just lift its health order. This might bring out two completely different trends for the SPCE stock price. On one hand, investors would be assured of the company going back to work. On the other hand, traders who have constantly been bidding on the stock price of the company might just realize there is nothing more to gain and sell it off.