No sooner had Richard Branson touched down on earth following his historic trip into space, shares of Virgin Galactic (SPCE) began dropping like meteors. In last week’s trading, the stock crashed by 38%. SPCE shares are known for their volatility, and you can put the selloff down to a classic case of “buy the rumor, sell the news.” However, the company’s post-flight decision to sell as much as $500 million in stock whenever the need arises, did not help matters either, sending investors to the exit gates faster that you can say “lift off,” – or in this case - “sell off.
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Virgin Galactic (NYSE:SPCE)
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From Aug 2021 to Sep 2021 Click Here for more Virgin Galactic Charts.
Virgin Galactic (NYSE:SPCE)
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Virgin Galactic Charts.