ARKX stock formed a bullish kicking pattern on July 9, 2021, as Virgin Orbit has created a lot of buzz surrounding space satellite stocks.
ARK, the investment firm founded by Cathie Wood, launched the much-awaited ARK Space Exploration & Innovation ETF (ARKX) on March 31, 2021. The fund was able to attract more than $500 million within a week, making it one of the most successful ETF launches ever.
Cathie Wood sold out of $SPCE went it hit $20 per share. That was a bad move by Cathie Wood’s ARKX ETF. But the ETF is young and can withstand bad trades like that. We hope Cathie Wood is good at adapting and changing her strategy when she makes bad trades like that.
ARKX Stock Forecast
ARKX price is currently at $20.90 as of July 11, 2021. It seems like a good risk to reward ratio that ARKX stock will one day trade much higher than the current price.
The ETF is basically back at its IPO price, which suggests a fair value. The holdings in the ETF are of companies that do 3D printing for the space industry, and even Amazon, which is working on its Blue Origin space flight venture. The holdings of the ETF seem very conservative and defensive in nature as opposed to the title of the ETF, which suggests much more risk.
Virgin Galactic Space Flight
Virgin Galactic (SPCE) conducted its first fully crewed flight on Sunday, July 11, 2021, sending Richard Branson into space.
Virgin Galactic has beaten Blue Origin’s Jeff Bezos to space, and it means that the company is very close to starting its commercial service. Virgin Galactic has two more flights, including one with the Italian Air Force, to close its test program. It plans to start commercial service in early 2022.
Michael Colglazier, Chief Executive Officer of Virgin Galactic, said: “Today is a landmark achievement for the Company and a historic moment for the new commercial space industry. With each successful mission we are paving the way for the next generation of astronauts. I want to thank our talented team, including our pilots and crew, whose dedication and commitment made today possible. They are helping open the door for greater access to space – so it can be for the many and not just for the few.”
VSS Unity achieved a speed of Mach 3 after being released from the mothership, VMS Eve. The vehicle reached space, at an altitude of 53.5 miles, before gliding smoothly to a runway landing at Spaceport America.
This seminal moment for Virgin Galactic and Sir Richard Branson was witnessed by audiences around the world. It gave a glimpse of the journey Virgin Galactic’s Future Astronauts can expect when the Company launches commercial service following the completion of its test flight program. A recording of the livestream can be accessed on Virgin Galactic’s YouTube channel.
Sir Richard Branson said: “I have dreamt about this moment since I was a child, but nothing could have prepared me for the view of Earth from space. We are at the vanguard of a new space age. As Virgin’s founder, I was honoured to test the incredible customer experience as part of this remarkable crew of mission specialists and now astronauts. I can’t wait to share this experience with aspiring astronauts around the world.”
Branson continued, “Our mission is to make space more accessible to all. In that spirit, and with today’s successful flight of VSS Unity, I’m thrilled to announce a partnership with Omaze and Space for Humanity to inspire the next generation of dreamers. For so long, we have looked back in wonder at the space pioneers of yesterday. Now, I want the astronauts of tomorrow to look forward and make their own dreams come true.” Source: https://www.businesswire.com/news/home/20210711005020/en/