Full Answer
What is VG acquisition's (vgac) stock price?
What is VG Acquisition's stock price today? One share of VGAC stock can currently be purchased for approximately $7.43. How much money does VG Acquisition make? VG Acquisition has a market capitalization of $472.32 million.
What does vgac stand for?
(RTTNews) - 23andMe, Inc. and VG Acquisition Corp. (VGAC), a special purpose acquisition company sponsored by Virgin Group, have agreed to merge through a combination of stock and cash financing. The business combination values 23andMe at an enterprise value of approximately $3.5 billion.
Why has vgac stock dropped 40 percent from its peak?
VGAC stock has fallen more than 40 percent from its peak. The drop can be attributed to several factors. Considering that VGAC stock almost doubled on the 23andMe merger announcement, some investors have been taking profits, which caused selling pressure.
What is vgac SPAC 23andMe stock?
VGAC SPAC is backed by billionaire Richard Branson of Virgin Group. VGAC stock investors and sponsors will own a 13 percent stake in 23andMe stock. After the merger closes, 23andMe stock will trade under the ticker symbol "ME."
What kind of company is VGAC?
NEW YORK, June 10, 2021 /PRNewswire/ -- VG Acquisition Corp. (NYSE: VGAC), a special purpose acquisition company sponsored by Virgin Group ("VGAC" or the "Company") today announced that its shareholders voted to approve the previously announced merger agreement with 23andMe, Inc.
Who is VGAC merging with?
SUNNYVALE, Calif. and NEW YORK, June 16, 2021 (GLOBE NEWSWIRE) -- 23andMe, Inc., a leading consumer genetics and research company, and VG Acquisition Corp. (NYSE: VGAC), a special purpose acquisition company sponsored by Virgin Group, today announced the completion of their previously announced business combination.
What does VG Acquisition Corp do?
The largest independent, home and personal care brand focused on health and sustainability, Grove is at the forefront of the direct-to-consumer and natural products trends and has emerged as a leader in the category, with over 1.5 million active customers through its direct platform and millions of units sold at ...
Who owns VG Acquisition Corp?
Genetic Test Company 23andMe Completes Merger with Richard Branson's VG Acquisition Corp., Stock Now Trades on NASDAQ.
Who owns 23andMe?
Anne Wojcicki, the cofounder and CEO of 23andMe, owns 99.4 million shares of the merged company; with shares trading on the Nasdaq under the ticker “ME” at $13.40 as of 3:00pm EDT Thursday, her stake is worth approximately $1.3 billion.
Who purchased 23andMe?
VG Acquisition Corp.23andMe is merging with VG Acquisition Corp., a special purpose acquisition company founded by billionaire Richard Branson, to go public. The deal values the consumer genetic testing company at $3.5 billion, including debt. The deal is expected to close in the second calendar quarter of 2021.
Is Virgin Galactic a SPAC?
Sir Richard Branson's Virgin Galactic went public via a merger with a special purpose acquisition company, or SPAC, from Chamath Palihapitiya in October 2019.
Can you invest in Virgin orbit?
California's Virgin Orbit (VORB) is now a public stock trading on the Nasdaq, having completed a merger with special purpose acquisition company (SPAC) NextGen Acquisition Corp.
What is a acquisition Corp?
What Is a Special Purpose Acquisition Company (SPAC)? A special purpose acquisition company (SPAC) is a company that has no commercial operations and is formed strictly to raise capital through an initial public offering (IPO) or the purpose of acquiring or merging with an existing company.
What happens to my SPAC shares after a merger?
What happens to SPAC stock after the merger? After a merger is completed, shares of common stock automatically convert to the new business. Other options investors have are to: Exercise their warrants.
How many SPACs are there in 2021?
In 2021, SPACs had raised capital in 613 IPOs in that year alone....CharacteristicNumber of SPAC IPOs--12 more rows•Apr 26, 2022
How many de SPACs are there in 2021?
January 1, 2019 to March 31, 2022YearNumber of issuesSPAC IPO market share (%)202024826202163632022535Total9731001 more row
Who are VG Acquisition's key executives?
VG Acquisition's management team includes the following people: Mr. Joshua Bayliss , CEO & Director (Age 47) Mr. Evan M. Lovell , CFO & Directo...
Who are some of VG Acquisition's key competitors?
Some companies that are related to VG Acquisition include FARO Technologies (FARO) , Quantum-Si (QSI) , 908 Devices (MASS) , Owlet (OWLT) , Me...
What is VG Acquisition's stock symbol?
VG Acquisition trades on the New York Stock Exchange (NYSE) under the ticker symbol "VGAC."
What is VG Acquisition's stock price today?
One share of VGAC stock can currently be purchased for approximately $2.80.
How much money does VG Acquisition make?
VG Acquisition has a market capitalization of $177.99 million.
What is VG Acquisition's official website?
The official website for VG Acquisition is vgacquisition.com .
How can I contact VG Acquisition?
VG Acquisition's mailing address is 65 BLEECKER STREET 6TH FLOOR, NEW YORK NY, 10012 . The company can be reached via phone at 212-497-9050 .
Why VGAC SPAC stock is falling
VGAC stock has fallen more than 40 percent from its peak. The drop can be attributed to several factors. Considering that VGAC stock almost doubled on the 23andMe merger announcement, some investors have been taking profits, which caused selling pressure.
VGAC's merger date
VGAC and 23andMe haven’t set a firm merger closing date. However, the transaction is expected to close at any time between April and June. The boards on both sides back the deal. The merger still needs approval from VGAC SPAC investors.
VGAC's stock forecast
VGAC stock has traded in the $9.65–$18.16 band since its debut. It closed at $10.19 on April 5. After seeing the stock drop off sharply from its high. As the 23andMe merger date draws close, you might be wonder what VGAC's stock forecast is now.
Is VGAC stock undervalued ahead of the 23andMe merger date?
23andMe will have an enterprise value of $3.5 billion after the VGAC SPAC merger closes. It aims to generate $218 million in revenue in 2021, which gives it a NTM EV-to-sales multiple of 16x.
Signals & Forecast
There are mixed signals in the stock today. The Vg Acquisition Corp stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
Is Vg Acquisition Corp stock A Buy?
Vg Acquisition Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Insiders are very positive as most new trades are buy in Vg Acquisition Corp
In the last 25 trades there were 767.73 thousand shares bought . The last trade was done 163 days ago by Mohan Neal who bough 18.42 thousand shares. For the period there is more stocks sold than bought, but the most of the latest transactions are buy. This can indicate renewed interest by the insider, but also stock options expiring
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star. This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.
Consumer genetic testing is trendy, but it may not be profitable (yet)
Would you want to know if you were at high risk of developing a rare disease? What about knowing whether you're hereditarily predisposed to enjoying chocolate? With the power of DNA sequencing technology, all it takes is spitting in a tube to answer these (not at all) equally important questions.
Evolving from consumer genetics to biotech
23andMe's business model starts with a purchase of its at-home sample collection kit, which is ingeniously simple. Just spit into the tube, and your saliva is ready to be mailed in for genetic sequencing.
NYSE: VGAC.U
There are two problems with this picture. The first problem is that revenue from therapy development is, at a minimum, years away. It takes a long time and a lot of resources to advance a drug from the laboratory to the end of the clinical trial process, and the company is only at the start of the journey.
What comes next?
Once VGAC's shareholders vote to consent to the deal, the shell company will be delisted and 23andMe will trade on the New York Stock Exchange (NYSE) under the ticker ME. Per the terms of the merger, it could get as much as $984 million in cash. That would leave it with an implied enterprise value of $3.5 billion.
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VGAC Stock Trend
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star. This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!