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Virgin Galactic's stock plummeted more than 17% on Monday after founder and British billionaire Richard Branson announced he would no longer invest in the commercial space travel company.
Virgin Galactic founded by Richard Branson, experienced a significant setback on Monday as its stock prices plummeted more than 17%.
Richard Branson pauses Virgin Galactic investment in 2024 to develop new Delta vehicle to travel to the edge of space in 2026. Find out more.
Following Richard Branson’s announcement of halting further financial contributions, the stock price of Virgin Galactic experienced a significant drop of over 17% by Monday’s close. This latest complication adds to a series of challenges the company has faced, including recent layoffs and a suspension of commercial flights.
The company’s stock price plummeted following the billionaire’s announcement that he would no longer support his space tourism venture with cash injections.