5 Stocks Retail Investors Have Eyes On Amid Richard Branson-Fueled Space Excitement

5 Stocks Retail Investors Have Eyes On Amid Richard Branson-Fueled Space Excitement

Photo Courtesy: Virgin Galactic

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 (NYSE: SPCE) Unity 22 craft.

Procure Space ETF (NASDAQ: UFO): Virgin Galactic, Trimble, and Garmin Ltd (NASDAQ: 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 (NYSE: 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 (NASDAQ: 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 (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: 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 (NASDAQ: 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 (BATS: 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 (NASDAQ: 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.

 

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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