Virgin Galactic Holdings, Inc. ( SPCE ) shares traded lower Tuesday potentially on continued weakness following the company’s 1-for-20 reverse stock split that went into effect Monday.

What’s Going On: Virgin Galactic ( SPCE ) shares began trading on a split-adjusted basis on Monday. The split was aimed at raising the company’s stock price to meet the NYSE’s minimum bid price requirement for continued listing.

Despite successfully launching four tourists aboard its VSS Unity spaceplane on June 8, Virgin Galactic’s stock has plummeted over 40% in the past month. The company plans to replace VSS Unity with its Delta class spaceships, expected to enter commercial flight in 2026.

Related Link: What’s Going On With Virgin Galactic Stock After Reverse Split?

Virgin Galactic ( SPCE ) has seen high trading volume Tuesday. The stock’s year-to-date performance is down 91.24%, highlighting ongoing challenges despite recent achievements.

SPCE Price Action: Virgin Galactic ( SPCE ) shares closed Tuesday down 13.7% at $10.10, according to Benzinga Pro.

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Courtesy of Virgin Galactic Inc.