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
[email protected]
.
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