Here are five names retail investors are watching on Monday in the aftermath of Sir Richard Branson’s successful test space flight on Virgin Galactic Holdings Inc’s SPCE Unity 22 craft.
Procure Space ETF UFO: Virgin Galactic, Trimble, and Garmin Ltd GRMN are the top three holdings of this ETF, with the Branson-founded company being the top holding. The fund’s investment thesis is focussed on satellite-enabled navigation, decreasing launch costs pushing satellite, tourism and telecom coupled with increased space investment from governments.
UFO closed 1.84% higher at $31.04 on Friday. The fund’s Friday price action was close to the 52-week high of $32.40. The ETF’s 52-week low was $19.33.
SPDR S&P Kensho Final Frontiers ETF ROKT: A fund that is focused on so-called “final frontier” companies exploring space and the deep sea, has Virgin Galactic among its top holdings.
ROKT closed 1.04% higher at $42.69 on Friday. The fund’s 52 weeks high and low ranged between $44.18 and $28.78.
Astra Space Inc ASTR: The company has a focus on broadband connectivity, GPS services, weather among other verticals. In February, Astra announced a merger with blank-check company Holicity Inc in a deal valued at $2.1 billion.
The company was trending on r/WallStreetbets at press time, a forum known for the GameStop Corp GME and AMC Entertainment Holdings Inc AMC short squeezes.
On Friday, Astra Space shares closed 2.02% lower at $13.58. The company’s shares traded between $9.52 and $22.47 in a 52-week time frame.
Vector Acquisition Corp VACQ: Space transportation startup Rocket lab USA Inc. is slated to go public through a merger with blank-check firm Vector Acquisition Corp. Notably, Virgin Galactic also went public through a SPAC merger in 2019.
On Friday, Vector’s shares shot up 2.88% to $11.45. The company’s shares have traded between $9.72 and $15.15 levels in a 52-week time frame.
ARK Space Exploration & Innovation ETF ARKX: An actively exchange-traded fund or ETF focused on companies that invest in space exploration and related fields. ARK’s top holding at press time was Trimble Inc TRMB, a company that touts itself as a leading provider of advanced-location-based solutions.
In May, Cathie Wood-led Ark Invest dumped its entire stake in Virgin Galactic in tranches. Since, Ark's first trade on May 6, the company's shares have soared 146% until Friday's closing price of $49.20.
ARKX moved up 1.65% to $20.90, near its 52-week high of $21.27 on Friday ahead of Virgin Galactic launch thanks to news surrounding space and its exploration. The ETF's 52-week low was $19.12.
Photo Courtesy: Virgin Galactic
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