VORB - Why Virgin Orbit Stock Ripped Higher Today
2023-03-22 14:37:30 ET
Shares of beleaguered small rocket launch company Virgin Orbit (NASDAQ: VORB) , which plunged on reports of furloughs and an operational pause last week, are bouncing back in a big way Wednesday, and are up an enormous 55.7% as of 1:40 p.m. ET today.
That doesn't get the stock quite back up to where it was after the bad news about its financial position was first reported -- so don't get too excited about Virgin Orbit just yet. That being said, the news does sound tentatively good.
As Reuters and CNBC reported this morning, Virgin Orbit is "in final talks" to secure a $200 million investment from Texan investor Matthew Brown. And if that falls through, Virgin apparently also has a different unnamed potential investor waiting in line who might be prepared to give the company some cash.
For further details see:
Why Virgin Orbit Stock Ripped Higher Today