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Cathie Wood’s space exploration ETF ARKX sells Virgin Galactic stock

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SpaceShipTwo “Unity” on the runway after an aborted spaceflight test on Dec. 12, 2020.

Virgin Galactic

Virgin Galactic shares fell in trading Wednesday as it was revealed Ark Invest’s space exploration ETF sold nearly all of its remaining stake in the space tourism company.

Cathie Wood’s firm sold 293,962 shares of Virgin Galactic from its ARKX fund on Tuesday, a day that was marked by wild trading in the stock following the company’s first quarter results. Virgin Galactic shares plummeted 20% – below $15 a share – to begin trading on Tuesday, before slowly rallying throughout the day to finish just barely positive.

Shares of Virgin Galactic fell more than 10% in trading Wednesday from…



Source cnbc.com

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