Virgin Orbit Down 41% in Premarket as Firm Halts Operations, Begins Layoffs

Virgin Orbit Down 41% in Premarket as Firm Halts Operations, Begins Layoffs

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Virgin Orbit, the Richard Branson-founded space company, is halting operations indefinitely and cutting almost 90% of its workforce after failing to secure funding. The move prompted a sharp stock decline, with the company’s shares plummeting 40% in premarket Friday. Virgin Orbit Ceases Operations…

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