Virgin Galactic Shares Surge 200%, Burning Short Sellers for $64 Million

2 articles · Updated · Bloomberg · Jun 2

$64 million in paper losses have hit Virgin Galactic short sellers after the space tourism company's shares jumped more than 200% since May 20, according to S3 Partners.
The rally was driven by Virgin Galactic's reaffirmed fourth-quarter launch timeline and its first flight test in two years, which revived bullish sentiment.
Retail traders piled into the stock as the rebound accelerated, intensifying pressure on investors who had been betting the shares would fall.

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