What's going on?

Virgin Galactic�s successful test spaceflight at the weekend was one small step toward its real ambitions, but it led to one giant leap for the space tourism company�s shares on Monday (tweet this).

What does this mean?

After back-to-back delays, investors were starting to have their doubts it�d ever happen. But this long-awaited trip into space � and the company�s first rocket launch in two years � has well and truly put Virgin Galactic back on its flight path toward space tourism.

All the company needs to do now is complete two more test flights and get a license from the US Federal Aviation Administration, both of which it thinks it can do by next year. If it does, it�ll be all set to start offering flights to paying customers. And with that prospect on the horizon, investors initially sent its stock � *resists urge to make �to the moon� joke* � up 20%.

Why should I care?

For markets: Expensive thing, space travel.�

Still, the jump in Virgin Galactic�s share price doesn�t make up for the two-thirds of value it�s lost since its peak in February. Some investors might argue the stock�s just a bit too dicey right now: it�ll be years before the company starts to make meaningful profits, despite already having earned $85 million in deposits from tickets starting at $200,000.

For you personally: Space ETFs are stretching the definition.�

The promise of a sci-fi future has got investors giddy with long-abandoned schoolkid fantasies, so it�s a good thing there are now several space-focused exchange-traded funds (ETFs) out there. Then again, there aren�t exactly many firms in the sector to invest in, with other high-profile names � like Jeff Bezos�s Blue Origin and Elon Musk�s SpaceX � still in private hands. So it�s worth being aware that the ETFs have a much broader � and pretty tenuous � scope, tracking everything from robotics to satellite communications firms.