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Disruptive innovation-focused ARK Investment Management LLC (or ARK Invest) is an investment advisor that gained importance after it generated colossal stock market gains in 2020. Cathie Wood’s newly added ARK Space Exploration & Innovation ETF (ARKX) began trading on March 30. “Space is already an invisible backbone to our economy, and we think that’s only going to become more so as [satellite] constellations launch,” said Ark Invest analyst Sam Korus.
The ETF does not include solely traditional space stocks, it also targets technology companies that operate in artificial intelligence, robotics, 3D printing, materials, and energy storage. Both TRMB and IRDM are among ARKX’s top 10 holdings. With a 9.4% portfolio weighting, TRMB is ARXX’s top holding, while IRDM holds the seventh position, with a 5.2% portfolio weighting as of October 21. IRDM has gained 16.1% over the past six months, while TRMB has gained 8.9%. In terms of their past year’s performance, TRMB is the winner with 66.6% gains versus IRDM’s 46.8%. Also, TRMB’s 29.6% gains year-to-date compares with IRDM’s 6.1% returns.
