What's Happening With Virgin Galactic Shares?
Portfolio Pulse from Henry Khederian
Virgin Galactic Holdings Inc (NYSE:SPCE) shares dropped 4.5% to $0.88 amid volatility and news of a potential reverse stock split, with a voting on the proposal scheduled for June 12. The stock has declined about 35% over the past month, hitting all-time lows. Approximately 25% of Virgin Galactic shares are being sold short. Over the past year, SPCE shares have decreased by 72.22%, with a significant loss for investors who bought shares at the beginning of the year or on March 1. The stock's all-time high is $55.91, and it currently has a Relative Strength Index (RSI) of 42.71, indicating neutral conditions.
April 24, 2024 | 4:51 pm
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NEGATIVE IMPACT
Virgin Galactic's stock fell 4.5% amid volatility and a potential reverse stock split announcement. The stock has seen a 35% decline over the past month and a 72.22% decrease over the past year.
The announcement of a potential reverse stock split and the ongoing volatility, coupled with a significant short interest, suggest a negative short-term impact on SPCE's stock price. The stock's substantial decline over the past month and year further supports a bearish outlook in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100