Sir Richard Branson's space tourism company Virgin Galactic Holdings Inc. (NYSE:SPCE) had its official IPO on the New York Stock exchange on October 28, 2019. The official IPO followed the merger with a public-traded special-purpose acquisition company (SPAC), which had its IPO in September 2017.
The price per share rallied on its IPO date to $12.93. Then, the company lost half of its value, and the price per share collapsed to $6.90 within one month. Once the lows of $6.90 were in, the stock rallied up to $42.49 (February 2020), just to collapse again down to $9.06 (March 2020).
