Why Virgin Galactic Stock Just Crashed 16.5%
Virgin Galactic(SPCE) The Motley Fool·2024-04-19 23:43
Virgin Galactic wants to reverse-split its stock. Should you be scared?Virgin Galactic (SPCE -11.69%) stock tumbled 16.5% through 10:40 a.m. ET Friday morning on what should have been ho-hum news. This morning, the company filed its regularly scheduled "notice of annual meeting of stockholders" (to be held on June 12). On the agenda: electing directors, approving an auditor, and setting executive salaries.Oh, and one more thing.Virgin Galactic will propose a reverse stock split. What will a reverse split do ...