Why Virgin Galactic Stock Popped Today
Shares of Virgin Galactic (NYSE: SPCE) had climbed a modest 2.3% by noon EDT on Monday, but today's big news isn't about Virgin Galactic at all. Instead, it involves its sister company, Virgin Orbit.
Image source: Getty Images.
This morning, the special purpose acquisition company (SPAC) NextGen Acquisition II announced that it has signed a definitive agreement to take Virgin Orbit public in a reverse merger IPO that values the company at $3.2 billion.
Source Fool.com