Why Investors Had a Meltdown Over Virgin Galactic's Reverse Split News
The Motley Fool
APRIL 29, 2024
Hence the investors' knee-jerk reaction: selling Virgin Galactic stock on news of the reverse split. Under New York Stock Exchange rules, stocks must maintain share prices of $1 or more, or risk getting delisted. NYSE doesn't want a bunch of penny stocks cluttering up its feed, you see.
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