Virgin Galactic plummets 12% in the stock market one day after space trip
Contrasts days for the Virgin Galactic space company. This Monday it has experienced a decline of up to 15.3% in the stock market after the firm completed its first tourist space trip to space, in which its founder, British billionaire Richard Branson has participated.
Specifically, the company’s shares have registered an intraday minimum of $41.70, compared to the 49.25 ‘green bills’ corresponding to the close of the session on Friday. After reaching the minimum, the price has risen slightly to 43.15 dollars, which is equivalent to a decrease of 12.4%.
This Sunday, Branson returned without incident from his journey to the edge of space following the successful takeoff and landing of the spacecraft ‘VSS Unity’, a flight that aims to usher in a new era of space tourism. Branson’s trip will be followed by another tycoon, Amazon founder Jeff Bezos, who aims to reach 100 kilometers of altitude aboard a rocket on July 20.
The stock market crash was also preceded by Virgin Galactic’s announcement of a sale of up to $500 million. For this, the firm has hired Credit Suisse, Morgan Stanley and Goldman Sachs as placement entities.