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One of the most popular names in the investing world for 2020 was Cathie Wood. The ARK ETFs were among the top-performing ETFs in 2020 and have become widely followed by retail traders.
What Happened: On Wednesday, Ark Investment Management filed an offering for the
Ark Space Exploration ETF under the symbol ARKX.
The actively managed ETF will invest 80% in stocks engaged in the investment theme of space exploration and innovation. Space exploration is defined as “leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.”
Space exploration is being grouped into four categories by Ark. The categories are orbital aerospace companies, suborbital aerospace companies, enabling technologies companies and aerospace beneficiary companies.
Momentus has pulled its Vigoride orbital transfer vehicle from the upcoming
SpaceX Transporter 1 Falcon 9 launch set for Jan. 14, to allow for more time for
FAA approval of its spacecraft. The company announced Monday that the mission will be manifested to a subsequent SpaceX launch in 2021. The Vigoride is an in-orbit transport vehicle and its first launch will be a demonstration mission.
“This move will allow for the additional time necessary to secure
FAA approval of Momentus’ payloads, including completion of a standard interagency review. Momentus currently holds all other necessary licenses for its Vigoride vehicle,” the company said in a statement.
Now what
NPA says the new IPO, tickered ASTS, will come public with a $1.8 billion market capitalization and a $1.4 billion enterprise value, of which $462 million will be cash that AS&T can use to build its business. The company s aim will be to address a $1 trillion need to enable cellphones that are already in existence to communicate with each other via satellite.
Those are some big numbers, and they may be the reason that investors in other space stocks are getting excited about the emerging space economy. The more money that pours into this sector, so the thinking may go, the more money that will be allotted to space companies of all stripes.
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