SPCE | Virgin Galactic | Quick Take

Today, in this short [SPCE | Virgin Galactic | Quick Take] video , we're going to be discussing the current state of the space industry and one particular company that has been making headlines lately. @Becca had asked about SPCE, so I wanted to take a quick look at Virgin Galactic.

As you can see from the chart, there has been a dramatic downtrend in Virgin Galactic's stock price, going from $50 to $6. It's currently sitting below its near-term moving average, showing a strong downtrend. Not only that, but the company is also facing a huge debt and is continuously losing money. On top of that, there appears to be a high short float, which could potentially lead to a short squeeze.

However, we have to keep in mind that the company just did a split on July 1 to 20, which could indicate further splits and offerings in the future. So while it may be tempting to take advantage of the current sentiment and hype around this stock, it's important to consider the company's financial situation.

If you're looking for a short-term trade, there may be an opportunity when the stock crosses above the moving average. But I would personally not recommend swinging this stock,

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REFERENCES
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Weekly Trading Game Plan Notes for 9/16 – 9/20/24 - Part 2 https://docs.google.com/document/d/1WwbOJvisdu_Y1xB5MJ0p0THe2LOZSNJpjsdSIHQ4BHQ/edit?usp=sharing

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TRADING PLATFORMS
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✅ Webull – Get FREE stocks with Webull https://bit.ly/3jKfvw5
✅ E*TRADE – Use our link and we both get rewarded! https://bit.ly/3zP6rvB
✅ Public Investing https://bit.ly/3M5eACK (Referral Code: MichaelSDeVries)

#SPCE #virgingalacticholdings #virgingalactic

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