SPCE has surged 180% in a month, driven by a successful glide test, a court settlement, and anticipation of the SpaceX IPO.
Reddit is split: some traders are loading up on calls for the excitement, while others are buying puts, betting on a pullback.
Short sellers are feeling the heat, but the company faces a tight runway of 2-3 quarters before needing additional capital.
Why SPCE is the Talk of Reddit
On June 1, 2026, 
The Reddit discussion is split. On r/wallstreetbets, a post with 647 upvotes and 195 comments reads: "I'm holding SPCE calls at $7 and $8 strike prices, purely for the excitement." Another post with 434 upvotes ties 
But not everyone is bullish. A post on r/smallstreetbets with 519 upvotes reads: "Made a killing on the way up, now trying to do the same with a portion of profits on the way down." Another on r/wallstreetbets with 374 upvotes says: "This shit will stop soon. Only 48 bucks in SPCE puts." And on r/options, a user notes that "IV was 200% on Friday and popped 50% to 300% today," with "massive volume on $11 6/18 expiry" and a "buildup of puts" at lower strikes.
The News Context: A Short Squeeze and a Tight Runway
The same-day news context from Benzinga confirms the rally: "Virgin Galactic (SPCE) surged 180% in one month, driven by a successful glide test, court settlement clearing litigation, and analyst reaffirmation of Q4 2026 commercial launch plans." The article notes that "the rally triggered a short squeeze with retail traders flooding in," but also that "fundamentals remain challenging with $93M quarterly cash burn against $220-251M liquidity." The company faces a "tight runway of 2-3 quarters before needing additional capital," and "success depends on executing operational milestones without delays."
This news context aligns with the Reddit discussion. The r/smallstreetbets post that says "Don't sell. This all started when some individuals put out a reasoning and that people would get confused during IPO" references the same SpaceX IPO catalyst. The r/options post that notes "MMs finally got the go ahead to open the option chain to $15 for all expiries" suggests that market makers are preparing for a volatile ride.
Sentiment and Engagement
The overall sentiment for SPCE is 0.60, with a rank delta of +24, indicating a significant shift in retail investor attention. The subreddit r/wallstreetbets has 150 posts, 35,126 upvotes, and 10,257 comments with an average sentiment of 0.745. r/smallstreetbets has 105 posts, 2,411 upvotes, and 943 comments with an average sentiment of 0.724. r/options has 21 posts, 563 upvotes, and 377 comments with an average sentiment of 0.721.
The Bottom Line
SPCE is a stock that has captured the imagination of retail investors, with a mix of bullish and bearish sentiment. The rally is real, but so are the risks. The company's cash burn and tight runway mean that the next few quarters will be critical. For now, the Reddit crowd is watching, and the options chain is signaling a volatile ride ahead.
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