Why Shares of AeroVironment and Two Space SPACs Are Soaring Today

There's a new space-focused exchange-traded fund (ETF) coming from one of the hottest names in investing, and that has led to a lot of investor speculation about what stocks are likely to be included.

That speculation has a number of stocks rocketing higher on Tuesday, with shares of AeroVironment (NASDAQ: AVAV), Stable Road Acquisition (NASDAQ: SRAC), and New Providence Acquisition (NASDAQ: NPA) all up more than 10% apiece.

Last week space stocks jumped higher after Cathie Wood's Ark Invest announced plans to launch an ETF focused on space. Few investment firms can match the ARK Innovation (NYSEMKT: ARKK) fund's 170% return in 2020, and investors are keenly focused on what Ark plans to do next.

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Source Fool.com