VORB - Virgin Orbit stock plunges after receiving Nasdaq delisting notice
2023-04-11 06:52:53 ET
- Virgin Orbit ( NASDAQ: VORB ) shares plunged as much as 34% premarket on Tuesday after the satellite launch firm received a delisting notice from Nasdaq .
- Late Monday, the company was notified by the exchange that trading in its common stock and warrants would be suspended on April 13, 2023.
- The notice comes after the Richard Branson-founded company filed for bankruptcy last week after failing to secure funds to keep operating and eliminating 85% of its staff.
- VORB shares have lost over 97% in value over the past year
- SA Quant system has been rating the stock as a "Strong Sell" since July 2022
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Virgin Orbit stock plunges after receiving Nasdaq delisting notice