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Why Virgin Galactic Stock Popped Today

TheMotleyFool

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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

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