Fundraising decision comes only a day after Richard Branson took a flight to the edge of space
Shares in Virgin Galactic have fallen back to earth with a bump after an announcement by the spaceflight firm of its plans to sell up to $500m (£360m) of stock – only a day after the company’s founder, Richard Branson, completed a flight to the edge of space.
Virgin Galactic’s share price had risen by about 9% in pre-market trading on Monday but changed course and plummeted by as much 14% after the company said it intended to sell off shares to raise funds.