Virgin Galactic shares fall after $500m stock sale announcement

Fundraising decision comes only a day after Richard Branson took a flight to the edge of spaceShares in Virgin Galactic have fallen back to earth with a bump after an announcement by the spaceflight firm of its plans to sell up to $500m ( £360m) of stock – only a day after the company’s founder, Richard Branson,completed a flight to the edge of space.Virgin Galactic ’s share price had risen by about 9% in pre-market trading on Monday but changed course and plummeted by as much 14% after the company said it intended to sell off shares to raise funds.Continue reading...

Source: Guardian Unlimited Science - July 12, 2021 Category: Science Authors: Joanna Partridge and Graeme Wearden Tags: Virgin Galactic Business Richard Branson Space Science Stock markets UK news US news Securities and Exchange Commission Jeff Bezos Source Type: news