bearish
Space Race Reality Check
SUMMARY
- This week, space launch company Virgin Galactic's funding woes escalated as emergency talks with potential investors fell through.
- As a result, the company announced a staggering 85% workforce reduction and paused operations until further funding is secured.
- Since going public in 2021 with a $3.7 billion valuation, Virgin Orbit's value has plummeted by 99% as of its last close, highlighting the realities of space investing.
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