Cathie Wood’s Ark Investment has relinquished 99% of its remaining holdings in Virgin Galactic, according to Benzinga. The Thursday sale happened after the company said it will conduct the next spaceflight test on the weekend, sending the shares higher.
The Thursday sale of 3,125 shares means Ark Invest now has only 45 shares in Virgin Galactic.
Last month, Galactic founder Richard Branson sold almost $150 million worth of stock, leaving him with 56.8 million shares in the company.
The recent sale by Ark Invest happens after the company sold more Virgin Galactic stocks in April following a bullish run.
Virgin Galactic is championing space tourism and hopes to launch commercial service in 2022, with about 600 customers having booked a spaceflight.
Virgin Galactic stock is slightly up on premarket. SPCE: NYSE +0.54%
