SPCE: Huge Short Opportunity

SPCE: Huge Short Opportunity

2021-08-17 • Updated

What happened?

Sir Richard Branson risks losing his grip on Virgin Galactic as he continues to sell down his stake in the space tourism venture to fund his pandemic-hit businesses.

The British Billionaire Richard Branson sold approximately 4% of his space company Virgin Galactic. Branson sold about 10.5 million shares through a firm he controls. Although he owns less than 18% of the company, he remains the largest shareholder. Branson will use the money to support existing and develop new enterprises. Sir Richard has already sold Virgin Galactic shares: in April 2021 for about $150 million, in 2020 for $300 million.

Branson can appoint the three board members if Virgin and former investment partner Aabar Space retain more than 50% of their original stake in the company. After the past sale, the British billionaire owns 50,6% of the company.

Technical analyses

Daily chart

SPCEDaily.png

Virgin Galactic stock is moving in the rising channel. Sometimes it gets hyped and pumps but always returns. At the moment, this stock gives us a huge opportunity to open a trade. The price didn’t close the gap at $21, and the rule says that every gap should be closed. Lately, the price might go to the bottom line of the channel. If it stays inside the channel, traders will be provided with a good entry point for a long trade. Otherwise, it will fall to the $10-12 support range.

TRADE NOW

Similar

What to trade on May 16-20?
What to trade on May 16-20?

Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!

What to trade on May 9-13?
What to trade on May 9-13?

It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!

What to trade next week?
What to trade next week?

Last week was truly unforgettable, filled with geopolitical tensions and changes of market sentiment. Russian ruble lost 40% against dollar amid sanctions from EU and US. Brent oil soared to almost $120 a barrel, a 10-year high for the commodity. Chinese stocks are near the covid crash levels. Let’s dive into the market together!

Latest news

What To Trade On May 23 - 27?
What To Trade On May 23 - 27?

Last week blew traders' minds!  The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…

Can a recession be avoided? 
Can a recession be avoided? 

The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession. 

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera