Virgin Galactic's shares plummeted after the company announced a reverse stock split, with the board approving a 1 for 20 split to prevent the stock from becoming a penny stock. The move aims to keep the company listed on the NYSE amidst challenges faced by Richard Branson's space tourism venture.
Virgin Galactic celebrates flight hiatus with a reverse stock split https://t.co/4bUMcrgzHH
Virgin Galactic is doing a reverse stock split to avoid becoming penny stock roadkill! Is this the end for Richard Branson's space tourism dream? š @jonnajarian "if his ships get anywhere near the International Space Station, it would crush, like, a bug". @petenajarian Rebel'sā¦ https://t.co/RHkCduk5By
Virgin Galactic Holdings, Richard Branson's embattled space tourism company, will complete a reverse stock split to stay listed on NYSE. https://t.co/eMo4ehsgOH
$SPCE (-9.4% pre) Virgin Galactic Sinks After Board Approves Reverse Stock Split (1 for 20) - BBG https://t.co/tIYbrTpTW9
Virgin Galactic $SPCE shares tumble on reverse stock split announcement https://t.co/0IK1RXEv2m https://t.co/6JLwRZaK6F
Virgin Galactic announces reverse stock split $SPCE https://t.co/mHd55c6s14
Virgin Galactic announces reverse stock split https://t.co/NciBCpCTTO https://t.co/ssASCr89hq
Virgin Galactic shares plunge on reverse stock-split announcement - my story for @MarketWatch #VirginGalactic $SPCE https://t.co/JCWtVYEnWx