Canaccord analyst Austin Moeller placed the firm’s rating and price target on Virgin Orbit Under Review until investors get resolution on the company’s financing to continue operations after the company confirmed a press report that it was pausing company operations and placing its employees on unpaid furlough. It appears likely that availability of capital from the company’s key investor, Virgin Group, "broke down in some way" in the market turmoil this week, the analyst said.
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Published first on TheFly
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