Reddit Users Mistakenly Buy Shares of Company with Name Similar to SpaceX, Skyrocketing Stock by 165%

Virgin Galactic’s shares have surged an astonishing 165% over the past month, a rally sparked by a mix‑up among investors on Reddit’s WallStreetBets forum. As anticipation built around SpaceX’s imminent IPO, thousands of users mistakenly bought Virgin Galactic stock, confusing its ticker symbol, $SPCX, with SpaceX’s own, $SPCE.

The aerospace sector has been on the radar ever since SpaceX filed its formal IPO paperwork on May 21, 2026, projecting a valuation near $1.75 trillion. The high expectations created a frenzy among small investors, who inadvertently inflated Virgin Galactic’s price by simply mistyping the ticker.

Beyond the accidental buying spree, a significant portion of the rally stems from a speculative strategy orchestrated by other forum members. They predicted that SpaceX’s debut would generate a positive spill‑over effect across the entire aerospace industry. Drawing on historical market reactions to prior IPOs, these retail investors deliberately poured money into Virgin Galactic, betting on its low current price and its potential to ride the inevitable media buzz.

Despite the current narrative being dominated by collective error, Virgin Galactic has recently achieved a genuine milestone by successfully completing a test flight of its VSS Unity spacecraft in New Mexico. The mission on May 27 marked the company’s return to active operations after a two‑year hiatus, providing a justification for the gains of investors who entered the market by sheer chance.

Capitalizing on this renewed and unexpected media attention surrounding the brand, the board confirmed that commercial operations and tourist flights will formally resume in the last quarter of 2026. In tandem with this operational announcement, the aerospace firm reopened ticket sales for a batch of roughly fifty future missions, setting a price of $750,000 per seat.

Despite this unforeseen market windfall, the consensus of market recommendations remains neutral toward the company, setting an average target price of just $3.55 per share by factoring in the current disconnect between its valuation and financial fundamentals. Given that Virgin Galactic generates minimal revenue and operates with significant losses, the sustainability of this massive leap will depend on how quickly investors realize they have purchased the wrong stock.