SPCE - What's Going On With Virgin Galactic Stock After Reverse Split? | Benzinga
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are trading lower Monday after the company effected a 1-for-20 reverse stock split.
The Details:
Virgin Galactic shares began trading on a reverse-split adjusted basis Monday morning. The company said its primary goal in introducing the split is to increase its common stock’s price per share to meet the minimum bid price requirement for continued listing on the New York Stock Exchange.
Virgin Galactic marked its second spaceflight this year on June 8 when it launched four tourists aboard its VSS Unity spaceplane. The mission was the last commercial flight for the space plane which Virgin Galactic plans to replace with its Delta class spaceships, expected ...