Note: This thread is related to #Coronavirus #COVID19

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Michael Sheetz+ Your Authors @thesheetztweetz Space Reporter @CNBC | pitches [email protected] | DM for cell, WhatsApp, Signal, ProtonMail | formerly @DJNF @ESTribune | alumnus @TheKingsCollege May. 11, 2020 1 min read + Your Authors

Sir Richard Branson is preparing to sell as much as $504.5 million of his stake in Virgin Galactic $SPCE, or about 22% of his holdings in the space tourism company.  https://www.cnbc.com/2020/05/11/richard-branson-to-sell-virgin-galactic-spce-stake-up-to-500-million.html 

Branson intends to use the proceeds of the sale to fund Virgin Group's "portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19."  https://www.cnbc.com/2020/05/11/richard-branson-to-sell-virgin-galactic-spce-stake-up-to-500-million.html 

Branson's stake in Virgin Galactic was worth $2.32 billion as of Friday.  https://www.cnbc.com/2020/05/11/richard-branson-to-sell-virgin-galactic-spce-stake-up-to-500-million.html 

Virgin Galactic $SPCE shares open trading down as much as 8%:

 https://www.cnbc.com/2020/05/11/richard-branson-to-sell-virgin-galactic-spce-stake-up-to-500-million.html 

Virgin Galactic $SPCE shares close trading down less than 4% at $19.40, recouping part of its earlier losses.

 https://www.cnbc.com/2020/05/11/richard-branson-to-sell-virgin-galactic-spce-stake-up-to-500-million.html 


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