Virgin Galactic Shares Slide After Debt Redemption Plan Involving New Stock Issuance (SPCE) - Yahoo Finance
Virgin Galactic (NYSE:SPCE) shares dropped 15% on Tuesday after the space tourism company revealed plans to redeem a portion of its outstanding debt through the issuance of common shares, a move that will dilute existing shareholders. The announcement came after a strong rally in the stock, with shares gaining 22% on Monday and soaring approximately 180% over the past month amid renewed investor enthusiasm for space-related companies and speculation surrounding a potential SpaceX public offering.