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Virgin Orbit crashed in the UK – here’s why this hedge fund is shorting its sister firm
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A Philadelphia-based hedge fund is betting against Richard Branson's spaceflight company Virgin Galactic, as shares in sister firm Virgin Orbit fall on the back of a failed launch attempt.
After booking 35% profits on a long Twitter bet in October 2022, Bireme Capital expanded its short book to end the year with 36% in gains. Virgin Galactic is now another target.
Bireme's...
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