Home Business Former CEO of Amazon Jeff Bezos Buys Out Virgin Galactic, Set To Dismantle Space Program

Former CEO of Amazon Jeff Bezos Buys Out Virgin Galactic, Set To Dismantle Space Program

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

Jeff Bezos is making waves in the market after he announced via Twitter he has completed a buyout of Richard Branson’s Virgin Galactic Holdings Inc (NYSE:SPCE) and will be shutting down its space program and plans to incorporate talent from Virgin Galactic into Blue Origin. This news spelled disaster for Virgin Galactic investors who already were hit hard this morning, expecting a huge increase in share price after Branson’s successful test flight over the weekend, but were met with an early morning filing showing a sale of over 500,000,000 shares causing the share price to plummet.

Get The Full Walter Schloss Series in PDF

Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q2 2021 hedge fund letters, conferences and more

Virgin Galactic Shares Dip On Bezos' Announcement

Virgin Galactic was down almost 20% at market close, during the evening of Monday the 12th when the announcement was made, massive after hours selling started plummeting Virgin Galactic even more before the SEC halted all after hours trading of Virgin Galactic, $SPCE is now down almost 65% in one trading day, an almost unheard of amount for a company of its size.

Many Wallstreetbets users who have weekly calls on Virgin Galactic are beyond mad. Some have threatened to “put Bezos on the local FOX-11” while some are more accepting of the grim future and are considering suicide.

In other news, Chief Keef was named brand ambassador for Blue Origin and is expected to accompany Bezos on his flight to space.

This post first appeared on The Stonk Market


Disclaimer: This is a satirical article.

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

Eloise Williams
Editor

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.