Virgin Galactic Jumps on Settlement News as RSI Signals Overbought
Virgin Galactic Holdings (SPCE) rose about 9.9% in premarket to around $4.98 after the U.S. District Court granted preliminary approval for a $2.75 million settlement with insurers to resolve two shareholder derivative lawsuits, easing a litigation overhang. Technically, the stock sits well above its 20- and 200-day simple moving averages with an RSI of 78.65, signaling overbought conditions and suggesting a potential pullback. The company is slated to report next on August 5, 2026, with an expected loss of 68 cents per share on revenue of about $139,336. Analysts are mixed (Hold consensus), while Benzinga Edge shows bullish momentum but warns that longer-term value remains uncertain.