These high-beta names are loaded with upside potential, and when they start to move, they really move.
Just look at their performance last year—it speaks for itself.
The ARK Space Exploration & Innovation ETF $ARKX is the best index for tracking this group of stocks.
It’s been the strongest performer of all the Ark funds, hitting new all-time highs this cycle before the rest of the pack.
The ETF is on the verge of completing a multi-year base.
The line in the sand lies at those old 2021 highs around 21. If buyers can hold above this zone, the path of least resistance remains firmly to the upside.
As for the relative trend, it looks just as good.
ARKX is shifting to a bullish trend versus the market, suggesting these stocks are stepping up as leaders.
If this week's breakout to fresh highs sticks, we should see further upside and more outperformance in the future.
Space stocks are one of my high-conviction bets for the year, and so far, they’re living up to the hype.
