Virgin Galactic Goes to "Space"

Issue 79

Billionaire Richard Branson has gone to space aboard Virgin Galactic, although the media, Bezo’s PR team, and memers alike have drawn scrutiny on whether hovering just below the Karman line, the internationally recognized boundary of earth's atmosphere, really constitutes "space."

Virgin Galactic shares also suffered today as the company filed to sell $500 million worth of common stock. Virgin Galactic has 240 million shares outstanding with 164.6 million float. Based on Friday’s closing price of $49.20, Virgin’s $500 million offering would equate to nearly 10.2 million shares.  Despite the immediate drop in share value, the share sale suggests that the company is confident in it’s space tourism business.




Source: CNBC