U.S. markets closed
  • S&P 500

    4,185.47
    +15.05 (+0.36%)
     
  • Dow 30

    34,200.67
    +164.68 (+0.48%)
     
  • Nasdaq

    14,052.34
    +13.58 (+0.10%)
     
  • Russell 2000

    2,262.67
    +5.60 (+0.25%)
     
  • Crude Oil

    63.07
    -0.39 (-0.61%)
     
  • Gold

    1,777.30
    +10.50 (+0.59%)
     
  • Silver

    26.04
    +0.08 (+0.29%)
     
  • EUR/USD

    1.1980
    +0.0004 (+0.04%)
     
  • 10-Yr Bond

    1.5730
    +0.0430 (+2.81%)
     
  • GBP/USD

    1.3840
    +0.0056 (+0.41%)
     
  • USD/JPY

    108.7830
    +0.0670 (+0.06%)
     
  • BTC-USD

    55,686.12
    -5,064.86 (-8.34%)
     
  • CMC Crypto 200

    1,398.97
    +7.26 (+0.52%)
     
  • FTSE 100

    7,019.53
    +36.03 (+0.52%)
     
  • Nikkei 225

    29,683.37
    +40.68 (+0.14%)
     

Can Cathie Wood Send Space ETFs to the Moon?

  • Oops!
    Something went wrong.
    Please try again later.
Neena Mishra
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

In this episode of ETF Spotlight, I speak with Andrew Chanin, CEO of ProcureAM, and Micah Walter-Range, founder of Space Investment Services, about investing in space.

NASA’s fastest and most ambitious rover so far—Perseverance—landed on Mars last week, after a seven-month long journey. We discuss its mission.

Jeff Bezos announced last month that he would step down as CEO of Amazon (AMZN) and devote more time and energy into other passions like Blue Origin, his space company. Tesla (TSLA) CEO Elon Musk’s SpaceX is now reportedly worth $74 billion. Who’s winning the billionaire space race?

Cathie Wood’s ARK Invest filed for the ARK Space Exploration ETF (ARKX) last month. The announcement sent space stocks like Virgin Galactic (SPCE) and Maxar Technologies (MAXR) skyrocketing.

The global space industry could generate revenue of $1.1 trillion or more in 2040, up from approximately $350 billion in 2018, according to Morgan Stanley. Bank of America estimates the space economy to grow to $3 trillion by that time.

The Procure Space ETF (UFO), the world’s first pure-play space ETF, tracks an index developed by Micah. Loral Space & Communications (LORL), Gilat Satellite Networks (GILT), Viasat (VSAT), Virgin Galactic and Maxar Technologies are its top holdings. Tune into the podcast to learn more.

Make sure to be on the lookout for the next edition of ETF Spotlight and also make sure to subscribe! If you have any comments or questions, please email podcast@zacks.com.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Tesla, Inc. (TSLA) : Free Stock Analysis Report
 
Viasat Inc. (VSAT) : Free Stock Analysis Report
 
Gilat Satellite Networks Ltd. (GILT) : Free Stock Analysis Report
 
Loral Space and Communications, Inc. (LORL) : Free Stock Analysis Report
 
Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report