Virgin Galactic announces reverse stock split
Tweet
Share
E-mail
FILE PHOTO: Virgin Galactic (SPCE) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) as the company begins public trading in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid/File Photo
(Reuters) -Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 19% in extended trading.
The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17.
The company is planning the stock split to meet minimum share price requirements to continue listing on the New York Stock Exchange, Virgin Galactic said.
The company's shares were trading at 70 cents per share after the bell, and have fallen more than 65% so far this year.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar and Shounak Dasgupta)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Virgin Galactic Announces Date of Second Quarter 2026 Financial Results and Conference Call
- Ferrovial posts revenue growth in first half of 2026
- Chinese carmakers piling pressure on UK rivals, auto industry chief says
Create E-mail Alert Related Categories
General News, Reuters, Stock SplitsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
