Traders Over The Moon For This Aerospace Stock

Traders Over The Moon For This Aerospace Stock

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, March 22, 2023

After hitting a new 52-week low on Tuesday, a California-based aerospace company is seeing it’s stock rip during Wednesday’s premarket after the company suggested it is nearing a $200 million investment through a private share placement. The company also said it will initiate an incremental resumption of operations beginning March 23, according to a press release this morning.

Naturally traders are extremely excited about this news as shares of Virgin Orbit Holdings Inc. (Nasdaq:VORB) are currently bid up at $0.8107/share (+82.92% implied open for sellers) at the time of writing. It should surely be an exciting session for this small cap!

Virgin Orbit Holdings Inc is a vertically integrated space company that provides customers with dedicated small satellite launch capabilities. Its launches have delivered satellites to orbit for customers across commercial, civil, and national security and defense markets, both domestically and internationally.

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