Virgin Galactic shares plunged by more than 19% after US markets opened. This is due to a net loss of $111 million for Q2 this year, missing estimates, and a 36% decline in revenue. The big letdown was another postponement of its commercial space service from 2023's Q1 to Q2.
Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.
Amid the huge popularity increase of AMTD Digital (HKD)and growth by more than 10,000% in just weeks, HKD found its peak and is now down by almost 80% from its all-time high level. Beware of higher volatility.