Shares of Virgin Galactic surge after announcement that it will train astronauts for NASA

Shares of Virgin Galactic shares jumped Monday after it signed an agreement with NASA that will allow the space tourism venture to train astronauts for trips to the International Space Station on flights to the edge of space. The company — which is publicly traded but largely owned by founder Richard Branson and chairman Chamath Palihapitiya — announced on Monday that it signed a “Space Act Agreement” with NASA’s Johnson Space Center, which leads the agency’s astronaut program in Houston.

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