Stock Markets
Why Virgin Galactic stock tumbled on Friday
© Reuters. Why Virgin Galactic (SPCE) stock tumbles on Friday
Virgin Galactic (NYSE:) shares fell as much as 18% in pre-market Friday.
The sharp move to the downside occurred after the company said it entered an agreement for the sale of as much as $400 million of its common shares from time to time.
The sale will be conducted via Credit Suisse, Morgan Stanley, and Goldman Sachs.
Earlier this week, the embattled company said that Evan Lovell, Chair of its Board, passed away on June 20. Lovell previously served as Chief Investment Officer and managed the Virgin Group’s investment team globally.
The company said that Lovell will be replaced by Raymond Mabus on an interim basis.
SPCE stock price is up almost 53% through Thursday’s close.
Forex3 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex3 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex3 years ago
How is the Australian dollar doing today?
- World3 years ago
Why are modern video games an art form?
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions
