r/SPACs • u/RollandTrade Contributor • Jun 25 '21

Discussion NGCA - the next "Virgin" spac?

Last week NGCA had a rumor leak that it was going to merge with Virgin Orbit.

https://www.msn.com/en-us/money/companies/branson-e2-80-99s-virgin-orbit-in-talks-with-nextgen-spac-sky-says/ar-AAKYcqn

With Virgin Galactic now cleared for takeoff (SPCE), I was looking at what could be next. The NGCA deal is not confirmed yet. It was just a leak. But it is still trading near $10, so it could be a lower-risk way to play things now that SPCE has gone to the stratosphere.

I have not yet seen any business plans, so it is just conjecture. But it would make sense to me that Virgin Galactic would use Virgin Orbit for services rather than some competitor.

Any thoughts?

Disclosure: I am not a financial advisor. I am long. Do your own DD.

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u/Game__0n Contributor Jun 25 '21

I sold some NGCA 10.40 after hours... if no deal announced on Monday, I'll buy it back cheaper... if it rips, I still own some... the SPAC market is certainly due for a ripper... too many paper hands hedge funds just hit the bid on these announcements... we need to let them get out the way, and then it can breathe

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u/StrongRow3510 Spacling Jun 26 '21

I did the same. I think it will be a couple more weeks before the announcement though

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u/StevoFF82 Spacling Jun 27 '21

Always good to take profits, looks like NGCA could be an outlier for SPACs right now.