05:43 PM EDT, 06/12/2024 (MT Newswires) -- Virgin Galactic Holdings ( SPCE ) said Wednesday its board has approved a 1-for-20 reverse stock split to help meet the minimum per share bid price requirement for continued listing on the New York Stock Exchange.

The company said its shares will start trading on a split-adjusted basis when the market opens on June 17.

Shares of the company tumbled over 13% in after-hours activity.

Price: 0.7405, Change: -0.11, Percent Change: -13.07