Why Virgin Galactic Stock Just Crashed 14%
Virgin Galactic(SPCE) The Motley Fool·2024-06-14 00:53
Virgin Galactic investors just got some bad news. They should expect more.Two months ago, Virgin Galactic (SPCE -12.04%) stock crashed after the company told investors it planned a reverse stock split after holding its June 12 shareholders meeting.It's June 13 today, and Virgin Galactic has gone ahead with its plan. Last night after close of trading, management confirmed it will reverse split its stock 1-for-20. As of 12:15 p.m. ET today, Virgin Galactic stock is down 13.7%. Virgin Galactic's great big reve ...