Space Tourism

Does Virgin Galactic Have a Cash Crisis? Shares Tumble 20% in Two Days

4 days ago   |   By Observer

The billionaires-led space tourism industry is off to a bumpy start to 2022. Richard Branson's Virgin Galactic, the only publicly traded space tourism company in the market, has seen its stock tumble 28 percent since the beginning of the year. Much of the loss was logged in the past two days, after the company announced plans to raise up to $500 million in debt, sending a chilling signal to investors that the company might be running dry on cash.
Virgin Galactic said Thursday it will issue $425 million or more of convertible senior notes in a private offering. Convertible notes are a type...
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