Not To The Moon – Virgin Galactic Crashes Over 20% From Overnight Highs

Not To The Moon – Virgin Galactic Crashes Over 20% From Overnight Highs

Virgin Galactic shares soared into the stratosphere at the pre-market open, trading at $59.99, follow Sir Richard Branson’s brief stay in micro-gravity.

But, the share have plunged over 20% from those opening highs, now down over 6% from Friday’s close.

The shares are now halted as SPCE announced that it may offer and sell up to $500 million in stock through a distribution agency pact with Credit Suisse, Morgan Stanley and Goldman Sachs.

 

Tyler Durden
Mon, 07/12/2021 – 09:41

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