30. 40 percent. In a situation where it should actually go up. 20, 30 40 percent right there’s it’s a lot of head scratching for many of you guys and that’s. Why? I think this is the most important video to calm everybody down and to say what is going on, because there is, in this kind of cases, never like one event. That is triggering all that all right i mean, if you see the overall market, if you see the competition, if you see what’s going else on the on the stock market which which triggers this sell off and so on, you will, you will get an explanation of All of that so make sure to follow and subscribe all right. So, first of all uh it was a great event. Okay, after great events, usually sometimes it can happen that you have uh sell the news. What does it mean um in the stock market world? You are usually saying uh, you know sometimes it’s it’s uh smart to buy the rumors and sell the news, which means as soon as you hear something is happening. You buy the stock. So when it’s announced you get the pump up and then you sell okay. This would have worked with the richard branson announcement very very well as you remember, because the stock went up 30 or 25 percent and then during the day it went up and went down to only four percent right. So this was a very, very good move, but in the long run, it’s very hard to time the market so i’m, not playing that.
So this is number one okay, so profit taking after the event is something that is is done by short term traders, but people that jump off and on some ships some type of work, sometimes doesn’t. But in this case you know some people who sold might have saved them some profits. All right, then the second thing. Obviously this was directly after the flight was when uh virgin galactic announced the 500 million dollar stock sales. Okay, um, the company want to get more money to great and create greater things, and the question here is: is it already over? Is the sales over of the stock? And i said it already in my discord: if you guys want to have discord access, get the links, click the links below this video um. You usually get directly a notification okay, because this is something that they need to communicate to the sec on immediately basis. So as soon as they finish, the sales stock um, they need to actually fill the sec filling. So it means that we have not yet sold all 500 million, how much they sold. We don’t know, and we not we. We cannot know. This is inside information and that’s. Why we need to wait for the filling it seems like you know, they are not in hurry, okay and they could uh come out any minute. With this cc fling saying we sold all of that um, they can also let themselves a little bit of time and say you know what we have time.
We still have 200 million in the bank this this. This will go very far away um. So they are not in a rush, so maybe they they just wait that the stock goes a little bit higher. All right, then we have the overall market guys yesterday came out a very, very important number that shows us. The inflation okay and the inflation is as high as in 2008. Okay, and we know what happened after that. So the issue is that you never know when something is happening. Okay, so, but this kind of you know correlates are very very scary for many people, so they take out the money out of the market and where they are getting the money out from from everywhere. Okay, you see and saw the last couple of days. You know every almost every stock went down um, you know, so the overall market is very, very weak right now. Okay, we are like in a very, very neutral market or even in the bearish sentiment, so don’t wonder that space is not. You know very much hyped right now. Everybody is more scared, okay, what will happen with the overall economy right? I need to protect my funds and so on and so forth. So this is. This is the thing that we are seeing now and then another point in my personal opinion. As you know, space is picked up very much by reddit. Okay, so you can say, space is one of those meme stocks as well, beside gamestop, beside amc and so on and so forth.
Okay, so let’s have a look. What happened with gamestop, for example, the last couple of days and as you can see, wow they lost about seven percent yesterday it seems they will lose six percent today, as of the pre market, and then, since the last five days, they went from 200 to now 150, almost okay, so they lost also like 25 of the value. Okay same now, with amc yesterday minus 15 and minus six percent, now pre market with amc uh. The stock was at 49 and it’s now at 33, very similar to space actually um but uh. You know it’s it’s it’s, it seems like the overall meme market or the current meme stocks are not that popular okay and, as you can see, the over market also today looks not that great all right. So you have to understand that, with space being now in this overall situation of the um, you know meme stocks, then that’s uh that’s the the way that they get also pulled down. If this all is pulled down the whole segment of meme stocks right, but then let’s have a look into the virgin galactic stock itself. I i this is obviously not nice to see at all uh when we go from. You know 52 to 33, but you can see here. If we are opening the chart we are still in the overall. You know: um uptrend, okay, the multi year overall uptrend is still very much intact uh.
The next stop could be here at some 28. Okay, because here’s the 50 moving average, let me see if i can pull out also the 200 moving average let’s see where this support is okay. I don’t know why it’s not showing me let’s see if we can get the hundredth moving average, yet 100 moving average is just below that, which would be not that great, but the 50 moving average is definitely a resistance here and slowly. We are going also into uh rsi levels. You know with today. If, today we go another four percent down, then we’re going with the rsi levels to a let’s, say um section where the stock is actually oversold. Okay and then it will be just a matter of time when the people say wow virgin galactic is back at 28. I wish i have bought at 28, so the people are getting into that. Okay, so that’s. Currently what is going on. So i think that this is something quite interesting um and should be definitely uh. Um further followed all right so um with that said, there’s. Obviously, one more thing so again so just to for for completion of that so we’re here on a downtrend, yes, uh the stock need to bounce off, either here or here, to hold this upward trend that you can see here: okay and it holded it pretty much. All the time except you know this one time where we went down very very much but other than that you know it’s it’s, pretty pretty nicely uh pretty nice work here and you can see that um you are actually can can adjust your it’s like clockwork.
Okay, going up in this huge upwards channel, all right, um and the last thing you know without further you know blah blah. I mean business is going into space that that’s, maybe not also not good news for for space. If this uh flight will be successful, you know this shows just that there is competition, but, however, just like two companies fighting for the same kind of client, so summarized i’m not worried. You know i’m buying at this time. I know it’s annoying i’m, not looking into so many negative comments because it’s, just you know most of them, people are not successful in investing long term is the thing this company is very very great for term great team. Uh did some great great achievements and as peter lynch and other big guys said you know. Sometimes you see the stock is going down, but the company’s is over achieving, and this is where you buy more, and this is where actually the huge profit comes from so i’m super excited.