SPCE (Virgin Galactic)

[tsptalk]

Buy the rumor, sell the news?

SPCE is down 10% this morning (and filling in an open gap) after this past weekend's successful flight of the business's owner Richard Branson launch into space.

The chart does look intriguing with that gap now filled and what looks like bull flag. Full disclosure: I don't own it right now, but considering, and my wife does have a few shares.

 

[Bullitt]

Charts vs insiders.

SPCE filed today to sell another $500M worth of shares for a 5% dilution.

Branson has dumped over $500M in the past year and Chamath sold out of his $300M or so worth of shares in December and March.

I also find it odd that ARKX doesn't have this in their portfolio seeing it's a space themed ETF. They unloaded their shares in late May.