Why Virgin Orbit Shares Are Moving Higher

Virgin Orbit Holdings Inc VORB shares are trading higher Monday after the company received approval to conduct space launch operations out of Brazil.

Virgin Orbit has formed a new Brazilian subsidiary dedicated to bringing the LauncherOne air-launch rocket system to the Alcântara Launch Center. The new subsidiary was formally granted an operator's license to allow LauncherOne launch operations in Brazil.

The subsidiary and license for launch operations are expected to enable launches to space from Brazil as early as 2023.

See Also: Donald Trump-Linked Stock Digital World Is Falling Today: Here's Why

VORB Price Action: Virgin Orbit has traded between $11.28 and $2.59 over a 52-week period. 

The stock was up 2.79% at $3.32 at press time, according to data from Benzinga Pro.

Photo: courtesy of Virgin Orbit.

Posted In: why it's movingNewsPenny StocksSmall CapGlobalMoversTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.