Overview

• Virgin Galactic's board approved the reverse stock split, effective June 14, to consolidate 20 shares into 1.
• The split is intended to raise the share price and meet the New York Stock Exchange's minimum requirements.
• Virgin Galactic shares have been trading below $1 for over a month, risking delisting from the NYSE.
• The company is pausing spaceflights to focus on developing new, more efficient Delta-class spaceplanes.
• Virgin Galactic's stock price has fallen significantly since its 2021 peaks, prompting strategic adjustments.