Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are trading lower Friday after the company announced it is considering a reverse stock split with a range between 1-for-2 and 1-for-20.
The Details:
According to an SEC filing, Virgin Galactic will hold its 2024 annual meeting of stockholders on June 12 at 9:00 a.m ET. The company included a proposed amendment to effect a reverse stock split at a ratio ranging from any whole number between 1-for-2 and 1-for-20, as determined by the Board of Directors as one of the items to be voted on at the meeting.
Virgin Galactic shares are down nearly 40% over the past month and are trading at all-time lows Friday afternoon. …
