Why Virgin Galactic Holdings' Shares Popped 34.8% Today
Shares of Virgin Galactic Holdings (NYSE: SPCE) jumped as much as 34.8% in early trading Tuesday after another institutional investor disclosed a position. Shares settled as the day went on, but were still up 6.8% at 2:30 p.m. EST.
Park West Asset Management disclosed on Friday that it has acquired 4.25 million shares of Virgin Galactic, or 2.1% of shares outstanding. The fund is now the seventh-largest shareholder.
Image source: Virgin Galactic.
Source Fool.com
