Richard Branson is still identified as one of the key backers of Virgin Galactic (SPCE -2.07%), despite selling over $1 billion of the company’s stock since going public. Still, the market reacted harshly when Branson said he wasn’t going to put more into the company.
In this video, Travis Hoium covers Branson’s comments and why the market’s reaction is opposed to what Virgin Galactic’s management said recently; Virgin Galactic has enough cash to get to cash-flow positive.
*Stock prices used were end-of-day prices of Dec. 4, 2023. The video was published on Dec. 4, 2023.
Travis Hoium has positions in Virgin Galactic. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you pick to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
