Major Players in the Space Industry experienced double digit growth this Thursday, as Cathie Wood’s ARK Invest filed for the establishment of a new ETF dedicated to the galactic realm.
According to the filing, the “Space Exploration ETF” (ARKX) will include companies that are “leading, enabling, or benefitting from technologically enabled products and services that occur beyond the surface of the Earth”. Which companies will be added specifically, is still to be announced.
Due to a limited number of publicly traded companies in the space sphere and ARK Invests’ remarkable track record, this announcement directly led to large movements for affiliated businesses.
While Industry Flagships Maxar Technologies (MAXR) and Stable Road Acquisition (SRAC) have popped over 22% and Virgin Galactic (SPCE) soared by more than 15%, even the smaller corporations in this segment performed well.