SPCE Stock Bucks Space Sector Selloff Ahead Of SpaceX IPO — Richard Branson's Virgin Galactic Torches $64M In Short Bets
Virgin Galactic Holdings (SPCE) saw its stock surge by nearly 22% defying a broader sell-off in the space sector, which was largely attributed to a massive short squeeze. Short sellers incurred an estimated $64 million in losses as the company prepares for Q3 glide-flight testing and Q4 rocket-powered testing of its Delta-class spacecraft. This strong performance comes ahead of SpaceX's anticipated IPO, which has otherwise caused a pullback in other space stocks due to valuation reassessments.
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