Virgin Galactic Holdings Inc (NYSE:SPCE) shares are trading higher by 19% to $0.89 during Tuesday’s session, rebounding following recent, marked weakness. The company recently announced it is contemplating a reverse stock split, potentially at a ratio between 1-for-2 and 1-for-20, as disclosed in an SEC filing.
This proposal is set to be voted on at the company’s upcoming annual meeting on June 12. SPCE shares have seen a significant decline of roughly 35% over the past month, reaching all-time lows.
Additionally, approximately 25% of available Virgin Galactic shares are currently being sold short. Short interest refers to the number of shares that have ...
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