SPCE - Stable Road soars 22% as Cathie Wood's Ark Investment plans Space ETF

Stable Road Acquisition (SRAC) climbed 22% after-hours on news that Cathie Wood’s Ark Investment Management is planning to launch the ARK Space Exploration ETF.SRAC is planning to combine with Momentus, a space-cargo startup. Ark Innovation Fund (ARKK) now oversees about $41.5B in ETF products, and has Tesla as its biggest holding.SPAC New Providence Acquisition (NPA) also surged 13%. The company is merging with AST & Science, which is developing a space-based cellular broadband network.Upon closing of the transaction, AST SpaceMobile will become a publicly traded company and its common stock is expected to be listed on Nasdaq under the symbol "ASTS".The combined company will have an enterprise value of ~$1.4B and is expected to have an equity value of ~$1.8B.After the close, Richard Branson-founded company Virgin Galactic Holdings (SPCE) also soared 14%.

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Stable Road soars 22% as Cathie Wood’s Ark Investment plans Space ETF