To tell you the truth, I am convinced of Virgin's performance for more than half a year.
Richard Branson raised 500 million yuan last time; this time, the low placement could not be sold, issued with convertible notes, and he cashed out and sold not long ago.
Question a few points:
First, the business model. From the perspective of feasibility, it is indeed imaginative. Commercial aircraft have the lowest cost and the lowest operating cost. But at present, this industry requires a very high capital investment, unless you have a very profitable main business support, otherwise the cost of the money-burning game depends on insufficient capital. Compare Musk's SPACE X, Tesla, Inc. $Tesla (TSLA.US)$The business model was verified, Musk became the richest man, and there was plenty of money; Bezos' blue origin, with Amazon.Com Inc $Amazon (AMZN.US)$The support is also burning. The business model is still in its infancy, and it is still a long way from collecting tickets for commercialization.
Second, the founders themselves reduce their holdings and cash out. Due to the asymmetry of information, the founders themselves reduce their holdings and cash out, which will aggravate the mistrust of investors and intensify their selling. In short, the market for the past six months is to jump short and open low, and then continue to hit a new low. There's no fighting back. $Virgin Galactic (SPCE.US)$