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Virgin Galactic looks like newest cult stock as short sellers dig in
By Noel Randewich
SAN FRANCISCO (Reuters) - Wall Street's newest cult stock appears to be Richard Branson's Virgin Galactic Holdings Inc <SPCE.N>, as investors drive the space tourism stock to sky-high levels and short sellers dig in their heels.
Virgin Galactic jumped 15% on Wednesday, adding to a rally that has seen the money-losing company surge over 300% since early December.
That hypersonic ascent has made it a favorite among short sellers betting the shares will eventually fall back to earth, drawing comparisons to Tesla Inc <TSLA.O>, which has also surged in recent months.
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https://finance.yahoo.com/news/virgin-ga...38930.html
By Noel Randewich
SAN FRANCISCO (Reuters) - Wall Street's newest cult stock appears to be Richard Branson's Virgin Galactic Holdings Inc <SPCE.N>, as investors drive the space tourism stock to sky-high levels and short sellers dig in their heels.
Virgin Galactic jumped 15% on Wednesday, adding to a rally that has seen the money-losing company surge over 300% since early December.
That hypersonic ascent has made it a favorite among short sellers betting the shares will eventually fall back to earth, drawing comparisons to Tesla Inc <TSLA.O>, which has also surged in recent months.
...
https://finance.yahoo.com/news/virgin-ga...38930.html
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