The space economy is just starting to blast off.
Bank of America once noted the space market could hit $1.4 trillion by 2030, from a current valuation of $415 billion. That is, if Virgin Galactic can fly paying customers, and build a steady stream of revenue.
Two, while companies aren’t ready to send consumers into space just yet, companies are already seeing big demand. According to analysts at Cowen, 39% of people with a net worth of more than $5 million are already interested in paying at least $250,000 for a flight, says CNBC.
Three, Ark Investment Management said that it’s launching a space-themed ETF. In fact, it just filed with the US SEC to launch it. Reportedly, it will invest 80% in stocks engaged in the investment theme of space exploration, and innovation, defined as ‘leading, enabling or benefiting from technologically enabled products and/or services that occur beyond the surface of the Earth,” as noted by The Street.
All because of growing excitement over the possibility of space travel.
Further upside depends on companies, like Virgin Galactic (SPCE).
Just days ago, the company delayed its latest rocket test. “We have been progressing through our pre-flight preparations and, during that process, we have decided to allow more time for technical checks,” the space tourism company said, as quoted by CNBC. “We are working to identify the next flight opportunity.
Successful testing could send SPCE to the moon – and fast.
However, if you want further exposure to space stocks, take a look at the latest deal between BlackSky, which agreed to merge with Opsrey Technology Acquisition (SFTW).
According to Barron’s, “BlackSky is a “real-time geospatial intelligence, imagery, and data analytics company.” In short, the company is building a constellation of small satellites sitting in low-Earth orbit with many kinds of sensors that can be used to monitor the earth in real time. When the deal closes, Osprey’s stock symbol will change to “BKSY.”
Investors liked the deal so much they sent shares of SFTW from $11 to $15.90.