VORB - Traders Over The Moon For This Aerospace Stock

2023-03-22 09:29:40 ET

After hitting a new 52-week low on Tuesday, a California-based %Aerospace company is seeing it’s stock jump during Wednesday’s premarket after the company suggested it is nearing a $200 million investment through a private share placement. The company also said it will initiate an incremental resumption of operations beginning March 23, according to a press release this morning.

Naturally traders are extremely excited about this news as shares of %VirginOrbitHoldings (Nasdaq: ) are currently bid up at $0.8107/share (+82.92% implied open for sellers) at the time of writing. It should surely be an exciting session for this small cap!

Virgin Orbit Holdings Inc is a vertically integrated space company that provides customers with dedicated small %SatelliteLaunchCapabilities . Its launches have delivered satellites to orbit for customers across commercial, civil, and national security and defense markets, both domestically and internationally.