Home 2021 Report: Meme Stocks, SPCE the Focus

Report: Meme Stocks, SPCE the Focus

by Paul Ebeling

#meme #stocks

$SPCE $AMC

Richard Branson’s trip to space on the Virgin Galactic Holdings Inc. (NASDAQ:SPCE) VSS Unity did not boost the company’s share price Monday. The company announced in the morning that it has struck a distribution agreement with 3 firms for the sale of up to $500-M in an “at-the-market” offering.

Last month, Virgin Galactic completed a shelf registration of $1-B in stock. The other $500-M worth of registered shares are still available, should the company decide to offer them for sale.

Virgin Galactic stock traded down 17.30% to 40.69 in a 52-wk range of 14.27 – 62.80. The average daily trading volume is 34-M/ shares. More than 134-M traded at last look.

With the exception of Virgin Galactic, stocks related to space tourism and exploration have had, at best, a so-so yr so far. Cathie Wood’s Space Exploration and Innovation ETF has done no better than a gain of less than 2% since its launch in March. Virgin Galactic is not included among the 39 holdings in the fund.

AMC Entertainment Holdings Inc. (NYSE:AMC) touted its attendance numbers Monday morning, revealing that about 3.2-M people globally went to the movies over the weekend. As a whole, the theater industry posted its first $100-M + domestic box office take since early last yr. More than 2.5-M people saw a movie at an AMC theater at the weekend. But that did not impress investors.

AMC stock traded down about 7,7% to 42.61 Monday. The stock’s 52-wk trading range is 1.91 – 72.62, and the average daily trading volume is 162-M/shares. About 60-M/shares traded Monday.

Have a prosperous day, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

Latest Articles

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.
CLOSE