Virgin Galactic Shares Plunge 13% on Reverse Stock-Split Announcement
June 12 - Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 14% in extended trading.The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17.The company is planning the stock split to meet minimum share price requirements to continue listing on the New York Stock Exchange, Virgin Galactic said.The company's shares were trading at 70 ce