Virgin Galactic Holdings, Inc. shares rise 1.74% premarket after Universal Music Group's U.S. IPO filing.

Virgin Galactic Holdings, Inc. rose 1.74% in premarket trading. The European Commission's in-depth investigation into Universal Music Group's takeover of Downtown Music, which could potentially distort the market for wholesale recorded music distribution, may have influenced investor sentiment. Additionally, Universal Music Group's plans to list on a U.S. stock exchange through a secondary offering of existing shares, with investor Bill Ackman exercising a contractual right to sell shares from his stake, could have contributed to the stock's movement.