One of the leading bubble stocks was Virgin Galactic (NYSE: SPCE), a space flight company that is trying to build a tourism business by charging hundreds of thousands of dollars to take trips into low orbit. With money seemingly flooding from all over the world to these speculative asset classes, pre-revenue companies were trading at market caps north of $10 billion for a short period. This is easy when capital is seemingly infinite, with low interest rates and a soaring stock price, but becomes much harder with high inflation and a bear market.