Virgin Orbit Boeing 747-400 rocket launch platform, named Cosmic Girl, takes off from Mojave Air and Space Port, Mojave (MHV) on its second orbital launch demonstration in the Mojave Desert, north of Los Angeles. (AP Photo/Matt Hartman)
LOS ANGELES (AP) — Richard Branson's Virgin Orbit reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said.
A 70-foot-long (21.34-meter-long) LauncherOne rocket was released from beneath the wing of a Boeing 747 carrier aircraft off the coast of Southern California, ignited moments later and soared toward space.
The two-stage rocket carried a cluster of very small satellites known as CubeSats developed and built as part of a NASA educational program involving U.S. universities.
The launch occurred after the Boeing 747-400 took off from Mojave Air and Space Port in the desert north of Los Angeles and flew out over the Pacific Ocean to a drop point beyond the Channel Islands.
“According to telemetry, LauncherOne has reached orbit!” Virgin Orbit tweeted later. “Everyone on the team who is not in mission control right now is going absolutely bonkers.”
The rocket's upper stage coasted for a period, reignited to circularize the orbit and then deployed the nine CubeSats.
The flight developments were announced on social media. The launch was not publicly livestreamed.
Virgin Orbit, based in Long Beach, California, is part of a wave of companies targeting the launch market for increasingly capable small satellites, which may range in sizes comparable to a toaster on up to a home refrigerator.
Competitor Rocket Lab, also headquartered in Long Beach, has deployed 96 payloads in 17 launches of its Electron rocket from a site in New Zealand. Another of its rockets was nearing launch Sunday.
Virgin Orbit touts the flexibility of its capability to begin its missions by using airports around the globe.
Virgin Orbit attempted its first demonstration launch in May 2020.
The rocket was released and ignited but only briefly flew under power before it stopped thrusting. The lost payload was only a test satellite.
The company later said an investigation determined there was a breach in a high-pressure line carrying cryogenic liquid oxygen to the first-stage combustion chamber.
Virgin Orbit is separate from Virgin Galactic, the company founded by Branson to carry passengers on suborbital hops in which they will experience the sensations and sights of spaceflight.
Virgin Galactic expects to begin commercial operations this year in southern New Mexico.
Companies Mentioned in This Article
Compare These Stocks
Add These Stocks to My Watchlist
7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the "7 Tech Stocks To Buy On Sale".