Forget Cyber Space, Investors Clamoring to Invest in Outer Space
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With the market still having a bad taste in its mouth from the botched Facebook (Nasdaq: FB) IPO, it would seem that investor interest in high-risk ventures should have gone the way of the dodo bird. But that is clearly not the case...
After its world-wide announcement a few shorts weeks ago, asteroid mining company Planetary Resources indicated Friday it has already received 2,500 "investment requests."
The company didn't say if it took any money, but with backing from billionaires like Google's (Nasdaq: GOOG) Larry Page and Eric Schmidt, as well as other rich folk like Director James Cameron, Planetary probably doesn't need money...now.
The company's main mission is to mine Near-Earth Asteroids for raw materials, ranging from water to precious metals which could be worth tens of billions of dollars annually.
While Planetary Resources is clearly creating buzz among the public and now investors, it isn’t alone. The recent successful mission to deliver cargo to the International Space Station by Elon Musk's SpaceX's is creating IPO buzz for the company.
While it doesn't look like investors will be able to get in early on Planetary Resources and SpaceX (unless of course you're a billionaire), there are currently other publicly-traded companies working in outer space. One of those is Orbital Sciences Corp. (NYSE: ORB), which develops and manufactures small and medium-class rockets and space systems for commercial, military, and civil government customers.
All-in-all, investors' appetite for unproven, unprofitable, sci-fi ventures remains well and good. Wall Street is saved!
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After its world-wide announcement a few shorts weeks ago, asteroid mining company Planetary Resources indicated Friday it has already received 2,500 "investment requests."
The company didn't say if it took any money, but with backing from billionaires like Google's (Nasdaq: GOOG) Larry Page and Eric Schmidt, as well as other rich folk like Director James Cameron, Planetary probably doesn't need money...now.
The company's main mission is to mine Near-Earth Asteroids for raw materials, ranging from water to precious metals which could be worth tens of billions of dollars annually.
While Planetary Resources is clearly creating buzz among the public and now investors, it isn’t alone. The recent successful mission to deliver cargo to the International Space Station by Elon Musk's SpaceX's is creating IPO buzz for the company.
While it doesn't look like investors will be able to get in early on Planetary Resources and SpaceX (unless of course you're a billionaire), there are currently other publicly-traded companies working in outer space. One of those is Orbital Sciences Corp. (NYSE: ORB), which develops and manufactures small and medium-class rockets and space systems for commercial, military, and civil government customers.
All-in-all, investors' appetite for unproven, unprofitable, sci-fi ventures remains well and good. Wall Street is saved!
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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