What's Going On With Virgin Galactic Stock After Reverse Split?
Portfolio Pulse from Erica Kollmann
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are trading lower after a 1-for-20 reverse stock split aimed at meeting NYSE's minimum bid price requirement. Despite a successful spaceflight on June 8, the stock has fallen over 40% in the past month. Analysts have mixed ratings with an average 12-month price target of $1.67.
June 17, 2024 | 2:32 pm
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Virgin Galactic's shares are trading lower after a 1-for-20 reverse stock split. The split aims to meet NYSE's minimum bid price requirement. Despite a successful spaceflight, the stock has fallen over 40% in the past month. Analysts have mixed ratings with an average 12-month price target of $1.67.
The reverse stock split and the significant drop in stock price despite a successful spaceflight indicate negative market sentiment. Analysts' mixed ratings and the average price target suggest further downside potential.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100