In today's video I look at fundamentals and recent news for Virgin Galactic (NYSE:SPCE). On Monday, July 12, 2021, Virgin Galactic announced plans to sell shares, which caused the stock price to drop. Below I share a few highlights from the video. A day after a successful launch, Virgin Galactic announced plans to sell $500 million worth of shares, intending to use cash proceeds for general corporate purposes such as developing its spaceship fleet and making other infrastructure improvements. Unfortunately, investors were not thrilled, and the stock price dropped over 15% on Monday, July 12, 2021. On its most recent earnings report, on March 30, 2021, Virgin Galactic reported roughly $616 million in cash and short-term investments and no debt. For the fiscal year of 2020, Virgin Galactic lost roughly $250 million in free cash flow. In theory, Virgin Galactic had plenty of cash in its balance sheet before the announcement that it will be selling shares. *Stock prices used were the midday prices of July 12, 2021. The video was published on July 12, 2021.10 stocks we like better than Virgin Galactic Holdings IncWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Virgin Galactic Holdings Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Jose Najarro owns shares of Virgin Galactic Holdings Inc. The Motley Fool owns shares of and recommends Virgin Galactic Holdings Inc. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.Source