Watch CNBC's full interview with venture capitalist Chamath Palihapitiya
Chamath Palihapitiya, chairman of Virgin Galactic and founder of investment firm Social Capital, joins "Squawk Box" to discuss the top stories of the morning including the coronavirus outbreak, Virgin Galactic's rise in popularity with retail investors, Bob Iger stepping down as CEO of Disney, his support of Tesla, ESG investing and much more.
Virgin Galactic Chairman Chamath Palihapitiya thinks the recent rally by Wall Street’s favorite speculative stock is not the sign of a bubble, pointing instead to the space tourism company’s growing demand from possible customers.
Shares of Virgin Galactic have tripled since the beginning of the year. But, asked whether he thinks the stock is getting ahead of itself, Palihapitiya identified a combination of factors as driving shares higher, including the current U.S. market conditions and the demand Virgin Galactic is seeing from potential customers.
“There’s a setup [in the market] where there’s no real growth, there’s no unique stories and there’s nothing that can give you long-term outlook,” Palihapitiya said on CNBC’s “Squawk Box” on Wednesday.
Palihapitiya added that this setup for Virgin Galactic’s stock rally “also applies to Tesla,” saying “those two things are the most similar stories.”
“When a company comes along that has a unique narrative and is trying to do something that is differentiated, high margin and could theoretically grow for 10 years ... these things get re-priced in ways that are non-traditional,” Palihapitiya said.
Virgin Galactic as a business is “making amazing progress,” he said, although the company’s timeline for beginning commercial operations appears to have been pushed back. The company told investors ahead of its October stock debut that commercial flights would begin in the first or second quarter of this year, setting a target for 16 flights in 2020. But that schedule has slipped, as often happens in the space industry, with CEO George Whitesides telling shareholders on Tuesday that the company’s main goal this year is to safely fly founder Sir Richard Branson to space. Generating significant revenue this year, then, is not the company’s current focus.
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Watch CNBC's full interview with venture capitalist Chamath Palihapitiya канала CNBC Television
Virgin Galactic Chairman Chamath Palihapitiya thinks the recent rally by Wall Street’s favorite speculative stock is not the sign of a bubble, pointing instead to the space tourism company’s growing demand from possible customers.
Shares of Virgin Galactic have tripled since the beginning of the year. But, asked whether he thinks the stock is getting ahead of itself, Palihapitiya identified a combination of factors as driving shares higher, including the current U.S. market conditions and the demand Virgin Galactic is seeing from potential customers.
“There’s a setup [in the market] where there’s no real growth, there’s no unique stories and there’s nothing that can give you long-term outlook,” Palihapitiya said on CNBC’s “Squawk Box” on Wednesday.
Palihapitiya added that this setup for Virgin Galactic’s stock rally “also applies to Tesla,” saying “those two things are the most similar stories.”
“When a company comes along that has a unique narrative and is trying to do something that is differentiated, high margin and could theoretically grow for 10 years ... these things get re-priced in ways that are non-traditional,” Palihapitiya said.
Virgin Galactic as a business is “making amazing progress,” he said, although the company’s timeline for beginning commercial operations appears to have been pushed back. The company told investors ahead of its October stock debut that commercial flights would begin in the first or second quarter of this year, setting a target for 16 flights in 2020. But that schedule has slipped, as often happens in the space industry, with CEO George Whitesides telling shareholders on Tuesday that the company’s main goal this year is to safely fly founder Sir Richard Branson to space. Generating significant revenue this year, then, is not the company’s current focus.
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Watch CNBC's full interview with venture capitalist Chamath Palihapitiya канала CNBC Television
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
![WATCH LIVE: President Trump addresses coronavirus outbreak at news conference – 2/26/2020](https://i.ytimg.com/vi/g4ujV1FjsIU/default.jpg)
![Watch CNBC's full interview with Berkshire Hathaway CEO Warren Buffett](https://i.ytimg.com/vi/JvEas_zZ4fM/default.jpg)
![Social Capital's Chamath Palihapitiya On Apple, Bitcoin, And The Internet | CNBC](https://i.ytimg.com/vi/MhO_FGErVvg/default.jpg)
![Executive Interview: Chamath Palihapitiya Virgin Galactic & Social Capital - Phocuswright Conference](https://i.ytimg.com/vi/XYrFmji1wqo/default.jpg)
![Chamath Palihapitiya, Founder and CEO Social Capital, on Money as an Instrument of Change](https://i.ytimg.com/vi/PMotykw0SIk/default.jpg)
![Microsoft warns on coronavirus concerns](https://i.ytimg.com/vi/vc3h2N6NEC4/default.jpg)
![Jim Cramer: 'You've got to start buying something' after coronavirus sell-off](https://i.ytimg.com/vi/40LeFhqGO3g/default.jpg)
![How To Double Your Money In The Stock Market](https://i.ytimg.com/vi/lU4l-6EJFaE/default.jpg)
![Trump to discuss coronavirus concerns at White House](https://i.ytimg.com/vi/D-69qg4qcp0/default.jpg)
![Tony Dwyer: There was too much enthusiasm going into peak, expected market dip](https://i.ytimg.com/vi/0CrIlA8202Q/default.jpg)
![How Discover Won Over The U.S. Middle Class](https://i.ytimg.com/vi/9KuGX4MovH4/default.jpg)
![The World According to Thiel](https://i.ytimg.com/vi/IXG2F0a6I28/default.jpg)
![Watch CNBC's full interview with Sir Richard Branson, Chamath Palihapitiya and George Whitesides](https://i.ytimg.com/vi/oGU9t6EX5C4/default.jpg)
![Market tough when it comes to impact of viruses: Ariel Investment's vice chairman](https://i.ytimg.com/vi/fQfPaqFt8bA/default.jpg)
![Social Capital CEO Chamath Palihapitiya On The Future Of The Internet | CNBC](https://i.ytimg.com/vi/Vl8Tx8M_twc/default.jpg)
![VC Chamath Palihapitiya: Indian entrepreneurs should stop copying U.S. startups](https://i.ytimg.com/vi/zyIogePNBDM/default.jpg)
![Democratic voters who watched debate say Sanders impressed them most: CBS News poll](https://i.ytimg.com/vi/zdfJ1m1TF70/default.jpg)
![Investor Chamath Palihapitiya Breaks Down Business Into 'Disrupters And The Disrupted' | CNBC](https://i.ytimg.com/vi/vvIR13eS8FE/default.jpg)
![Iconic investor Warren Buffett on Bernie Sanders and capitalism](https://i.ytimg.com/vi/HFMxB5o18H0/default.jpg)
![Chamath Palihapitiya Keynote - Hack the North 2018 - University of Waterloo Engineering](https://i.ytimg.com/vi/nHHCrTjclN4/default.jpg)