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Virgin Galactic Falls After Filing for Holders to Sell Stock

Shares of Virgin Galactic have surged 46% since the end of October and speculators have been betting that the stock will fall.

Shares of Virgin Galactic have surged 46% since the end of October and speculators have been betting that the stock will fall.

Photographer: Gene Blevins/AFP/Getty Images

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Virgin Galactic Holdings Inc. fell 3.5% on Friday after filing for shareholders to sell as much as 113 million shares.

The registration includes up to about 105 million outstanding shares of common stock and up to 8 million shares issuable upon the exercise of warrants that were issued in connection with a private placement, according to a filing with the Securities and Exchange Commission. The filing effectively converts an S-1 statement from May into an S-3 and doesn’t necessarily indicate that a sale has begun, or will occur in the future.