Virgin Galactic shares are trading lower after the company's board approved a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Virgin Galactic shares are trading lower after the company's board approved a 1-for-20 reverse stock split.
June 13, 2024 | 1:15 pm
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Virgin Galactic shares are trading lower following the approval of a 1-for-20 reverse stock split by the company's board.
Reverse stock splits are often perceived negatively by investors as they can signal financial distress or efforts to meet listing requirements. This has led to a decline in Virgin Galactic's share price.
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