Richard Branson is still identified as one of the key backers of Virgin Galactic (SPCE 3.15%), despite selling over $1 billion of the company's stock since going public. Still, the market reacted harshly when Branson said he wasn't going to put more into the company.
In this video, Travis Hoium covers Branson's comments and why the market's reaction is opposed to what Virgin Galactic's management said recently; Virgin Galactic has enough cash to get to cash-flow positive.
*Stock prices used were end-of-day prices of Dec. 4, 2023. The video was published on Dec. 4, 2023.
