Sunday, June 13, 2021

What is behind the fall of Virgin Galactic Holdings Inc. (SPCE) stock?

Virgin Galactic Holdings (NYSE: SPCE) founder has recently sold over $150 million worth of SPCE stock, with share price ranging between $26.85 and $28.73. However (SPCE) shares were falling -4.95% to trade at $25.36 in pre-market at the last check.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored



Virgin Galactic had aimed to initiate space tourism by the end of last year, but pandemic-related delays as well as hindrance due to mechanical testing issues has further pushed back that timeline. SPCE saw a 3.49% plummet adjacent to the news about SPCE problems with hundreds of clients already signed up for a trip around space, costing $250,000.

Now what


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


5.584 million shares of Virgin Galactic were sold by Branson and several entities related to Virgin holding, for total proceeds of $150.3M. Virgin Galactic went public in 2019 through a merger with a special purpose acquisition company in affiliation with Chamath Palihapitiya. Chairman of Virgin Galactic, Chamath Palihapitiya sold approximately 6.2 million sharesat a price of $34.32 per stock, obtaining $213 million, last month. Virgin Galactic was also left by chief space officer George Whitesides, who was once chief of staff at NASA, who left to pursue potential opportunities in public service.

Recently, Virgin Galactic also released “VSS Imagine,” its second spacecraft, and the first of its next-generation class of vehicles in its fleet.

“For us to make the business start to scale, at the places that we’re aspiring towards, we need two things: We need many more ships than we have right now and we also need the ships that we bring forward to be built in a way that they’re able to be maintained in a way that we can have much quicker [turnaround times between flights] than what we have with Unity,” stated Colglazier, Virgins chief executive.

SPCE is striving for commercialization and development of the spacecraft that it plans to use to fly people to the edge of space however several setbacks like electromagnetic interference caused problems for the spacecraft, with the next attempt expected to be in May.

Conclusion

SPCE operates in the lucrative field of space tourism with hundreds of clients ready to take a trip around the edge of space for approximately 250,000. However, a combination of pandemic related delays as well as mechanical issues present in SPCE aircrafts has reduced investor interest with the stock plummeting 4.95% at the last check.

Latest news

 Hawaiian Holdings Inc. (HA): Weak Share Price A Buying Opportunity

Travel restrictions continue to be eased by Hawaii for tourists. Consequently, Hawaiian Airlines, owned by Hawaiian Holdings Inc. (NASDAQ: HA), stands to benefit as...

Set Your Sights On Conn’s Inc. (NASDAQ: CONN)’S Upside Potential

A furniture and home furnishings retailer, Conn's Inc. (NASDAQ: CONN), reported growth in sales in the first quarter. The company's performance surpassed analysts' predictions...

Does Investing In Roblox Corporation (RBLX) A Smart Move?

Roblox Corp. (NYSE: RBLX) released its first-quarter earnings report earlier this week. Growth in earnings and subscriber numbers are the main driving forces of...

Why is Sea Limited (SE) stock increasing rapidly?

Sea Limited (NYSE: SE), an online gaming, e-commerce, and digital payments company, reported strong earnings in the first quarter of 2021. Company revenue growth...

Related news

 Hawaiian Holdings Inc. (HA): Weak Share Price A Buying Opportunity

Travel restrictions continue to be eased by Hawaii for tourists. Consequently, Hawaiian Airlines, owned by Hawaiian Holdings Inc. (NASDAQ: HA), stands to benefit as...

Set Your Sights On Conn’s Inc. (NASDAQ: CONN)’S Upside Potential

A furniture and home furnishings retailer, Conn's Inc. (NASDAQ: CONN), reported growth in sales in the first quarter. The company's performance surpassed analysts' predictions...

Does Investing In Roblox Corporation (RBLX) A Smart Move?

Roblox Corp. (NYSE: RBLX) released its first-quarter earnings report earlier this week. Growth in earnings and subscriber numbers are the main driving forces of...

Why is Sea Limited (SE) stock increasing rapidly?

Sea Limited (NYSE: SE), an online gaming, e-commerce, and digital payments company, reported strong earnings in the first quarter of 2021. Company revenue growth...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.