- The stock price of Virgin Galactic Holdings Inc (NYSE: SPCE) fell by over 8% pre-market. This is why it happened.
The stock price of Virgin Galactic Holdings Inc (NYSE: SPCE) fell by over 8% pre-market. This appears to be a continuation in a decline, triggered by company founder Sir Richard Branson selling off a large tranche of shares last week.
More recently, ARK Invest — the investment firm led by Cathie Wood — sold off large portions of SPCE as well. According to 24/7 Wall St, ARK Invest sold more than 590,000 shares of Virgin Galactic yesterday.
Out of the 590,000+ shares sold, the ARK Autonomous Technology & Robotics ETF (BATS: ARKQ) sold 315,600 shares and Ark Space Exploration & Innovation ETF (NYSEARCA: ARKX) sold 275,204 shares.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.