Blockchain
Virgin Galactic regains NYSE compliance with stock price
Virgin Galactic Holdings, Inc. (NYSE) has successfully regained compliance with the New York Stock Exchange’s (NYSE) minimum share price requirements, as detailed in a recent 8-K filing. The space tourism company had previously received a notice of non-compliance due to its stock price falling below the NYSE’s minimum average closing price of $1.00 over a 30-day period.
Strategic Response and Compliance
The compliance notification, received on July 1, 2024, followed Virgin Galactic’s strategic move on June 14, 2024, when the company implemented a 1-for-20 reverse stock split. This corporate action raised the price per share, allowing Virgin Galactic to meet the NYSE’s continued listing standards. Trading on a split-adjusted basis began on June 14, effectively addressing the share price deficiency that prompted the initial NYSE warning on May 29, 2024.
Virgin Galactic’s proactive measures have successfully brought its stock back in line with NYSE requirements. The NYSE confirmed this compliance in a letter dated July 1, 2024. As a result, Virgin Galactic is now in compliance with all NYSE continued listing standards, providing reassurance to investors and stakeholders about the company’s market position and financial stability.
Recent Developments and Partnerships
In other news, Virgin Galactic has announced a partnership with the International Institute for Astronautical Sciences (IIAS) to launch three research astronauts on a future mission aboard the company’s Delta Class spaceship. This mission aims to build on previous research studying fluid behavior in microgravity, crucial for developing future medical technologies and life support systems.
Additionally, SpaceX’s Starship rocket recently embarked on its fourth test flight from South Texas. This test, part of SpaceX’s “test-to-failure” approach, aims to push each prototype further, ultimately ensuring the rocket’s capability to withstand re-entry heat through Earth’s atmosphere. The success of Starship is crucial for NASA’s planned 2026 lunar mission.
InvestingPro Insights
Virgin Galactic Holdings, Inc. has navigated through a challenging period to re-establish compliance with NYSE’s minimum share price requirements. The reverse stock split was a pivotal move in maintaining its listing status. While this adjustment has addressed immediate concerns over share price, broader financial health and market sentiment towards SPCE remain critical considerations.
InvestingPro data highlights several key metrics for investors. As of Q1 2024, Virgin Galactic’s market capitalization stands at $163.31 million. Despite a substantial revenue growth of 251.91% during the past year, the company faces a negative gross profit margin of -767.52%, reflecting high costs associated with its pioneering space tourism business. Additionally, the stock is trading at a low Price/Book multiple of 0.39, suggesting potential undervaluation relative to the company’s assets.
From an investment perspective, two InvestingPro Tips offer deeper insights. Virgin Galactic holds more cash than debt on its balance sheet, a positive indicator of financial stability providing some cushion against operational risks. However, the company is quickly burning through cash, raising concerns about its long-term sustainability without additional funding or revenue streams. Furthermore, the stock price has experienced significant volatility, with a price total return of -89.47% over the past year, emphasizing the speculative nature of investing in this sector.
For investors considering Virgin Galactic’s future prospects, there are 21 additional InvestingPro Tips available that provide further guidance on the stock’s potential. These tips cover various factors, from sales forecasts to stock price volatility. For the most comprehensive insights, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro or a yearly or biyearly Pro+ subscription, offering a valuable resource for informed decision-making in this high-stakes industry.
This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.
Source: in.investing.com
The post Virgin Galactic regains NYSE compliance with stock price appeared first on HIPTHER Alerts.
Blockchain
ZBD and Finfare partner to offer gamers cash rewards for their everyday purchases!
Finfare Connect, a market-leading rewards platform empowering businesses to engage and retain customers through personalized offers, has announced an innovative collaboration with ZBD, a leading payments company at the forefront of digital economies.
Finfare Connect is a part of Finfare Inc., a thriving fintech company with offices in Irvine, California and London.
Through this strategic alliance, Finfare will provide ZBD users with access to affiliate, card-linked, and instant cashback offers, enabling them to earn Bitcoin through everyday purchases, above and beyond those already earned via the ZBD app.
Beginning today, ZBD users will have the option to link their payment card or multiple payment accounts to start automatically earning rewards while shopping online or at in-person stores. Card linking involves connecting a single payment card, while account linking occurs when a user connects multiple bank accounts to earn highly customized rewards.
In terms of rewards, ZBD users who sign up for the program will have access to offers from thousands of well-known brands such as Nike, Adidas, Asics, Crocs, Tommy Hilfiger, Urban Outfitters, Cole Haan, Steve Madden; and popular retailers such as Nordstrom, Brookstone and Best Buy, among many others.
ZBD’s innovative app immerses users in a world of games and apps, allowing them to earn Bitcoin while enjoying diverse entertainment experiences.
Now, US-based ZBD users will be able to seamlessly earn Bitcoin through their everyday purchases simply by linking their payment accounts via the ZBD app. Then, they will automatically earn Bitcoin whenever they purchase an item that’s promoted by FinFare.
“We are thrilled to launch this exciting offering with ZBD,” said Alan Zrado, Executive Vice President, Finfare Connect. “Through this alliance, we are enhancing the way ZBD users engage with digital payments, offering them unparalleled opportunities to earn Bitcoin through their everyday transactions. This partnership also underscores our commitment to empowering businesses by providing their customers with compelling, customized, and valued rewards.”
“We are excited to join forces with Finfare Connect to give ZBD users greater value by giving them more ways to easily earn Bitcoin rewards,” said Ben Cousens, Chief Strategy Officer of ZBD. “By combining Finfare Connect’s expertise in personalized offers with ZBD’s cutting-edge payments technology, we are providing our users with a great way to earn Bitcoin by shopping as they normally would anyway.”
The post ZBD and Finfare partner to offer gamers cash rewards for their everyday purchases! appeared first on HIPTHER Alerts.
Blockchain
Keabank Launches World’s First Payment Intelligence Service to Simplify Global Payments
Blockchain
Hata, a dual-licensed digital asset exchange in Asia raises $4.2 million to make digital assets more accessible
Hata
-
Blockchain Press Releases7 days ago
Grexie Signchain Launches on November 1st, 2024: Enabling Smart Contract Developers to Bring Off-Chain Data On-Chain with Seamless Gas-Paid Signing
-
Blockchain Press Releases7 days ago
Bybit Named ‘Best Blockchain Company of the Year’ at Future Enterprise Awards 2024
-
Blockchain Press Releases6 days ago
Race to the Top: Bybit Adds $1 Million to WSOT 2024 Prize Pool – Final Days to Register!
-
Blockchain Press Releases6 days ago
Ostium Launches Novel Macro Trading Platform Amidst Growth in Global Events-Based Trading
-
Blockchain Press Releases2 days ago
BitMEX achieves industry-leading low on-chain AML risk profile through strategic partnership with Chainalysis
-
Blockchain6 days ago
India Fintech Blockchain Report 2024: Market to Grow by Over $1.5 Billion by 2030 – Regional Insights, Competition, Forecast and Opportunities
-
Blockchain7 days ago
EBUEY: In-Depth Review of Multi-Layered Security and Innovative Trading Tools—EBUEY Reviews
-
Blockchain2 days ago
India Digital Payment Gateway Research Report 2024: $32.96 Bn Market Trends Analysis, Regional Insights, Competitive Landscape, Forecasts and Opportunities 2020-2030