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Virgin Galactic Holdings Inc (NYSE:SPCE) shares are trading higher by 19% to $0.89 during Tuesday’s session, rebounding following recent, marked weakness. The company recently announced it is contemplating a reverse stock split, potentially at a ratio between 1-for-2 and 1-for-20, as disclosed in an SEC filing.
This proposal is set to be voted on at the company’s upcoming annual meeting on June 12. SPCE shares have seen a significant decline of roughly 35% over the past month, reaching all-time lows.
Additionally, approximately 25% of available Virgin Galactic shares are currently being sold short. Short interest refers to the number of shares that have been sold short by investors betting on the stock’s decline.
When a stock experiences a significant increase in price, short sellers may rush to cover their positions to limit their losses, driving the price even higher. In the case of Virgin Galactic, with approximately 25% of available shares being sold short, a sharp increase in the stock price could trigger a short squeeze as short sellers scramble to buy shares to cover their positions.
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When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Virgin Galactic have decreased by 73.66% in the past year. An investor who bought shares of Virgin Galactic at the beginning of the year would take a loss of $1.54 per share if they sold it today. The stock has fallen 38.34% over the past month, meaning an investor who bought shares on Mar. 1 would see a capital loss of $0.78.
Virgin Galactic Hldgs shares have an all-time high of $55.91, representing 6616.72% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Virgin Galactic stock currently has an RSI of 10.42, indicating oversold conditions.
SPCE has a 52-week high of $6.17 and a 52-week low of $0.70.
Posted In: SPCE
