Cathie Wood on the moon! Ark Invest takes care of this space company for its ETFs
Ark Invest and Cathie Wood have bet on several space-related businesses over the years. The ETF company also launched its own ETF space in 2021 to tackle the growing industry. A space-related company was recently added to two Ark Invest ETFs this week.
What happened: A new position in Rocket Lab USA Inc RKLB was taken by ETF Ark Autonomous Technology & Robotics ARKQ and ETF Ark Space Exploration & Innovation ARKX this week.
Rocket Lab, which went public through the SPAC merger, is one of the largest commercial space exploration companies, trailing SpaceX in terms of rocket launches.
Ark Invest bought 571,467 shares of RKLB on Monday and Tuesday for the ARKQ ETF. These purchases make Rocket Lab the 37th largest position with $2.39 million and 0.25% of assets.
Ark Invest bought 157,470 shares of RKLB on Monday and Tuesday for the ARKX ETF. These purchases make Rocket Lab the 35th largest position with $660 million and 0.25% of assets.
Related link: Analyst Rating for Rocket Lab (RKLB)
Why it matters: A general theme of Cathie Wood and Ark Invest is to find disruptive and innovative companies. The space sector is expected to continue expanding, and companies such as Rocket Lab and SpaceX will help grow the sector.
Rocket Lab made its first successful launch in 2018 and has completed more than 20 flights in its history, including seven in 2022. The company also has missions reserved for trips to Mars and Venus .
Like SpaceX, Rocket Lab also hopes its reusable rocket program can help increase the number of launches and the associated costs.
Rocket Lab recently hosted an Investor Day and shared updates on several upcoming programs. The company's Electron program is among the leaders in small satellite launches with more than 30 missions completed.
The company has highlighted several future missions including a launch in December and a new contract with a confidential customer for the first quarter of 2023.
Rocket Lab's Space Systems Segment has shed light on its upcoming planned interplanetary missions to Mars and Venus.
Ark Invest now invests in a leading publicly traded rocket company, despite being the second-best or number 2 rocket launch company behind SpaceX, which is not public . While Ark Invest has only bought shares twice, its ETFs could continue to accumulate shares and make a big bet on the future of the space via Rocket Lab.
RKLB Price Action: Rocket Lab shares rose 4.53% to $4.38 at market close Wednesday, from a range of $3.53 at $16.97 for 52 weeks.
Photo: Dima Zel via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ark Invest and Cathie Wood have bet on several space-related businesses over the years. The ETF company also launched its own ETF space in 2021 to tackle the growing industry. A space-related company was recently added to two Ark Invest ETFs this week.
What happened: A new position in Rocket Lab USA Inc RKLB was taken by ETF Ark Autonomous Technology & Robotics ARKQ and ETF Ark Space Exploration & Innovation ARKX this week.
Rocket Lab, which went public through the SPAC merger, is one of the largest commercial space exploration companies, trailing SpaceX in terms of rocket launches.
Ark Invest bought 571,467 shares of RKLB on Monday and Tuesday for the ARKQ ETF. These purchases make Rocket Lab the 37th largest position with $2.39 million and 0.25% of assets.
Ark Invest bought 157,470 shares of RKLB on Monday and Tuesday for the ARKX ETF. These purchases make Rocket Lab the 35th largest position with $660 million and 0.25% of assets.
Related link: Analyst Rating for Rocket Lab (RKLB)
Why it matters: A general theme of Cathie Wood and Ark Invest is to find disruptive and innovative companies. The space sector is expected to continue expanding, and companies such as Rocket Lab and SpaceX will help grow the sector.
Rocket Lab made its first successful launch in 2018 and has completed more than 20 flights in its history, including seven in 2022. The company also has missions reserved for trips to Mars and Venus .
Like SpaceX, Rocket Lab also hopes its reusable rocket program can help increase the number of launches and the associated costs.
Rocket Lab recently hosted an Investor Day and shared updates on several upcoming programs. The company's Electron program is among the leaders in small satellite launches with more than 30 missions completed.
The company has highlighted several future missions including a launch in December and a new contract with a confidential customer for the first quarter of 2023.
Rocket Lab's Space Systems Segment has shed light on its upcoming planned interplanetary missions to Mars and Venus.
Ark Invest now invests in a leading publicly traded rocket company, despite being the second-best or number 2 rocket launch company behind SpaceX, which is not public . While Ark Invest has only bought shares twice, its ETFs could continue to accumulate shares and make a big bet on the future of the space via Rocket Lab.
RKLB Price Action: Rocket Lab shares rose 4.53% to $4.38 at market close Wednesday, from a range of $3.53 at $16.97 for 52 weeks.
Photo: Dima Zel via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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