Virgin Orbit Holdings Inc.’s stock plunged Tuesday as the company’s search for new funding continues.
The satellite-launch company’s stock plunged... Virgin Orbit Holdings Inc.’s stock plunged Tuesday as the company’s search for new funding continues. The satellite-launch company’s stock plunged more than 30% earlier this month after it announced an operational pause “in order to conserve capital while the company conducts discussions with potential funding sources and explores strategic opportunities.” Last week the stock snapped a six-day losing streak when it announced plans to restart operations.
Founded by Richard Branson in 2017, Virgin Orbit began commercial service in 2021. The company is based in Long Beach, Calif.In January, Virgin Orbit attempted to make history with the first orbital space launch from British soil, but its rocket carrying nine satellites suffered an “anomaly” and failed to reach orbit.
It's unfortunate that Virgin Orbit's stock has taken a dip, but hopefully they'll find funding soon to keep moving forward.
It’s been plunging since July 2021 …