Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Walmart reported poor earnings
Walmart, the giant retailer, fell short of analysts’ expectations. The earnings forecast was $1.51 per share, while the actual numbers came out $1.39. As a result, Walmart dropped by nearly 5% in pre-trade hours. Note that the stock trading is available from 16:30 MT time.
What does it mean for traders?
The good news for FBS traders is that they trade stock CFDs and can make both buy and sell trades. Since the figures came out worse than expected, Walmart will go down. Let’s look at the chart. The stock price has been trading in a descending channel since November. Now it touches the upper trendline of the channel, therefore it should pull back to the downside. The move below the recent lows of $143.50 may push the stock to this month low of $139.00. Resistance levels are $147.50 and $150.00.
Besides, you can trade stocks in our app FBS Trader!
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5 or FBS Trader app. FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area (an account in FBS Trader).
- Start trading!
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.