XBRUSD and XTIUSD might experience massive volatility due to the Chinese GDP release on Tuesday, October 18.
SPCE: Huge Short Opportunity
2021-08-17 • Updated
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.
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.
Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
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