(24/7 MARKET NEWS) – Virgin Orbit Holdings Inc (NASDAQ: VORB) is trading higher in this morning’s premarket following a report that the company will likely close a $200 million private share placement and on March 23 will incrementally restart operations.
Virgin Orbit is trading at $0.70, up $0.26 (+57.96), on 5 million premarket shares.
Its 52-week trading range is $0.41 to $7.59. If it can maintain strong trading volume, it appears to have a clear path to the $1 level or higher.
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