# Virgin Galactic announces reverse stock split
Published: 2024-06-13
Category: News
Category URL: https://tradingherald.com/category/news/
Meta Title: Virgin Galactic Announces Stock Split, Shares Drop
URL: https://tradingherald.com/virgin-galactic-announces-reverse-stock-split/

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## Virgin Galactic announces reverse stock split

(Reuters) -Space tourism company [Virgin](https://tradingherald.com/virgin-orbit-says-space-startup-in-talks-with-potential-investors/) 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](https://tradingherald.com/hackers-hit-italian-oil-company-enis-computer-networks/) is planning the stock split to meet minimum share price requirements to continue listing on the New York Stock Exchange, Virgin [Galactic](https://tradingherald.com/virgin-galactic-plans-first-commercial-space-service-for-june-shares-take-off/) 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)


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