Richard Branson sells Virgin Galactic stock. The founder of Virgin Galactic, who helped take the company public in 2019, sold more than $150 million worth of the company’s stock over the past three days, a securities filing on Wednesday revealed. Branson, and four entities he controls including Virgin Group, sold 5,584,000 shares of Virgin Galactic between April 12 and 14, CNBC reports. Virgin Group remains the largest shareholder in Virgin Galactic, with a 24 percent stake.
Propping up other businesses ... “Virgin intends to use the net proceeds from this sale to support its portfolio of global leisure, holiday and travel businesses that continue to be affected by the unprecedented impact of COVID-19, in addition to supporting the development and growth of new and existing businesses,” Virgin Group said. Branson’s sale comes a month after Virgin Galactic Chairman Chamath Palihapitiya sold his remaining personal stake in the company.
https://arstechnica.com/science/2021/04/rocket-report-spacex-to-build-huge-launch-tower-branson-sells-virgin-stock/
Maybe there's hope yet? Lifeboat think tank may go towards a partnership with SAS Ltd, pure speculation but one never knows in big business.
IMO GLTA
