ARK's Space ETF Readies for Tuesday Liftoff on CBOE

ARK Space Exploration & Innovation ETF on Tuesday will begin trading on the CBOE BZX Exchange under the ticker symbol ARKX.
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ARK Space Exploration & Innovation ETF  (ARKX) - Get Report on Tuesday will begin trading on the CBOE BZX Exchange, ARK Investment Management said.

ARK has gained fame in recent months as Chief Executive Cathie Wood has led the technology-heavy ARK Innovation ETF  (ARKK) - Get Report to a 152% return over the past year through Friday.

As for the new ETF, “ARK defines ‘space exploration’ as leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth,” the investment manager said.

This includes orbital and suborbital aerospace companies, enabling technologies companies, and aerospace beneficiary companies. 

The fund’s website lists its biggest holdings as Trimble  (TRMB) - Get Report, 3D Printing ETF  (PRNT) - Get Report and Kratos Defense & Security  (KTOS) - Get Report.

"[The] space industry is primed for takeoff," Wood said in a statement. "Thanks to advancements in deep learning, mobile connectivity, sensors, 3D printing, and robotics, costs that have been ballooning for decades are beginning to decline.”

Satellite launches and rocket landings are proliferating, she noted. ARK said satellite broadband revenue could approach $100 billion annually over the next five to 10 years. And hypersonic point-to-point travel could reach $270 billion.

Wood has been a prominent evangelist for electronic vehicle darling Tesla  (TSLA) - Get Report. Last week, she predicted it would hit $3,000 by 2025. The stock recently traded at $601.90, down 2.7%.

Demonstrating the Wood effect, on March 16 LendingClub  (LC) - Get Report shares rose after ARK Fintech Innovation ETF  (ARKF) - Get Report increased its stake in the online lending company. The shares at last check were off 3% at $16.34.

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