What's Going On With Virgin Galactic (SPCE) Stock?
Portfolio Pulse from Erica Kollmann
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are experiencing volatility as the company prepares for its first commercial space launch, 'Galactic 01'. The company's shares have been fluctuating throughout June, rising with the announcement of the expected commercial spaceflight and falling after the announcement of a $400 million at-the-market stock offering. At the time of publication, Virgin Galactic shares are trading 2.24% lower at $4.63.
June 29, 2023 | 3:27 pm
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Virgin Galactic's stock is experiencing volatility due to the company's first commercial space launch and the announcement of a $400 million stock offering. The stock is currently trading 2.24% lower at $4.63.
The volatility in Virgin Galactic's stock can be attributed to the company's first commercial space launch, which is a significant milestone, and the announcement of a $400 million stock offering, which typically dilutes existing shares and can lead to a decrease in stock price. The stock is currently trading lower, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100