Why Investors Had a Meltdown Over Virgin Galactic's Reverse Split News
The Motley Fool
APRIL 29, 2024
Under New York Stock Exchange rules, stocks must maintain share prices of $1 or more, or risk getting delisted. Virgin Galactic currently has only $382 million left in the bank, net of debt. Hence the investors' knee-jerk reaction: selling Virgin Galactic stock on news of the reverse split. Why do companies reverse split?
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