Virgin Galactic battling to maintain stock listing

Are we nearing the end for Virgin Galactic (the company for which New Mexico taxpayers built and maintain Spaceport America). The brainchild of then Gov. Bill Richardson and costing NM taxpayers hundreds of millions of dollars over the years, the Spaceport was “purpose built” to host Virgin Galactic’s space tourism operations.

Now, according to The Telegraph UK: 

On Wednesday night it said it had received a notice from the New York Stock Exchange that its shares had traded at an average price below $1 – the Wall Street minimum – for 30 days, putting it in potential breach of listing rules.

It means Virgin Galactic is at risk of being kicked off the New York Stock Exchange unless it can boost its share price.

The company last month asked shareholders to approve a “reverse stock split”, in which shares are merged to increase the value of each individual unit. Investors will decide whether to approve the measure at the company’s annual meeting in June.

RGF recently highlighted the fact that New Mexico’s elected officials continue to spend our tax dollars funding losers