Why Space Stocks Are Rocketing Higher Today

One of the hottest names in investing is launching an exchange-traded fund (ETF) focused on space, and that has some of its likely holdings soaring on Thursday morning.

Shares of Stable Road Acquisition (NASDAQ: SRAC) are up 26% in pre-market trading, while shares of New Providence Acquisition (NASDAQ: NPA) are up more than 19% and shares of both Virgin Galactic Holdings (NYSE: SPCE) and Maxar Technologies (NYSE: MAXR) climbed more than 15% in the premarket.

Few investment firms had a better 2020 than Cathie Wood's Ark Invest, with its flagship ARK Innovation (NYSEMKT: ARKK) fund returning 170% last year and growing assets under management to $17 billion. Investors tend to focus on what is hot, and so Wood is getting a lot of attention right now.

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Source Fool.com