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Virgin Galactic shares plummet after chairman dumps $213M stake

March 5, 2021

Virgin Galactic’s stock took a nosedive Friday after chairman Chamath Palihapitiya cashed out his personal stake for about $213 million. Shares in Richard Branson’s space-exploration firm tumbled 21 percent to a low of $23.95 after Palihapitiya, a prominent venture capitalist, revealed that he dumped the last 6.2 million shares in his personal portfolio. The stock… Read More

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