Why Investors Had a Meltdown Over Virgin Galactic's Reverse Split News [Yahoo! Finance]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Yahoo! Finance
every 20 shares of space stock they owned (or 15, 10, 5, or just 2) to just one single, solitary share. And Virgin Galactic investors did not like that news one bit Over the next two days, Virgin Galactic stock plunged a total of 22.5% from its preannouncement price. The stock has bounced back somewhat. But at a closing share price of $0.86 Thursday, Virgin shares remain down about 11% from where they started. Why is that? What is a reverse stock split? Let's start with the headline announcement: The reverse stock split itself. As the name suggests, a reverse split is the opposite of an ordinary stock split. Whereas in an ordinary split, a single share costing, say, $20 might be divided into 20 shares each costing $1, in a reverse split the reverse happens. Twenty shares that each cost $1 are effectively glued together into one mega-share costing $20. In either case, the value of the investor's ownership interest in the company does not change. It was $20 before the chan
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SPCE
News
- Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08Business Wire
- Why claiming your lost property can now cost you £50 [Yahoo! Finance Canada]Yahoo! Finance Canada
- Why claiming your lost property can now cost you £50 [Yahoo! Finance]Yahoo! Finance
- Bezos' Rocket Company Will Send Tourists To Space This Weekend For First Time Since 2022 [Forbes]Forbes
- Why Virgin Galactic Stock Jumped 13% on Monday [Yahoo! Finance]Yahoo! Finance
SPCE
Earnings
- 5/7/24 - Beat
SPCE
Sec Filings
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- 5/7/24 - Form 10-Q
- SPCE's page on the SEC website