Virgin Galactic ($SPCE) – Richard Branson's flight didn't crash, but his stock sure did. Shares in Virgin Galactic were down 17.3% yesterday following Bransons "historic" flight to "space" in what turned out to be the most expensive and potentially deadly PR stunt in human history. I was excited for this, but after learning Branson didn't actually reach "outer-space", I feel like the guy who sends a check to save the Nigerian Prince after reading an email.
AMC Entertainment ($AMC) – I was going to say that I feel bad for any AMC bag-holders after yesterday's 7.75% drop, but then I realized, I don't. Unless you're 16 years old or AMC was literally your first stock ever, my only question is - what was your gameplan? A great job was done pushing this thing to the moon, but it seems we won't be staying long. As they say in the biz, onto the next one.
Airbnb ($ABNB) – When did everyone jump off the post-pandemic, travel bandwagon? It seems like just last week that everyone and their mother thought they were Warren Buffet holding Delta, Hilton, or of course, Airbnb. Now what happened? Shares in Brian Chesky's $89 billion travel website opened higher and immediately took the elevator down, finishing 2% lower. This may not be a huge drop, but traders foreshadowed more downside to come.