Why Virgin Galactic stock is sliding 15% today

Virgin Galactic (SPCE) stock slid 16% on Thursday after announcing a $425 million convertible bond offering. Shares of the space tourism company have had a bumpy start to the new year. The stock is down more than 22% in the first couple of weeks of trading in 2022 amid broader market concerns of tighter Fed monetary policy. 

The convertible senior notes due 2027 will be part of “a private offering to persons reasonably believed to be qualified institutional buyers,” according to a statement…

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