Virgin Galactic (SPCE) Stock Falls on 1-for-20 Reverse Stock Split Plans

Virgin Galactic (NYSE:SPCE) stock is sliding lower on Thursday after the space exploration company announced plans for a reverse stock split. According to Virgin Galactic, this reverse stock split is set to take place after markets close on Friday. The company says that this will see shares start trading on a split-adjusted basis when markets open on Monday. The Virgin Galactic reverse stock split will have the company consolidate every 20 shares of SPCE stock into a single share. Virgin Galactic will maint ...