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.
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