No.22
Virgin Orbit (VORB) shares tanked by about a third after the failure of Britain's first satellite launch.
After taking off from Cornwall, the Virgin Orbit plane flew to 35,000ft over the Atlantic Ocean where it jettisoned a rocket containing nine small satellites towards space.
The rocket reached space but experienced an anomaly before it could achieve its target orbit, in a blow to Richard Branson’s ambitions in the growing market for commercial satellite launches.
Shares in Virgin Orbit, which are listed on the Nasdaq stock exchange (^IXIC), slumped by as much as 23% in the pre-market in New York, wiping up to $240m (£197m/€223m) off its share price if it trades that way when US markets open later on Tuesday.
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