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Tema Space Innovators ETF slips 38% from May high
The Tema Space Innovators ETF debuted March 31 and the article points to volatile, pre profit holdings, including SpaceX, AST SpaceMobile, Rocket Lab, and Viasat, as weighing on performance.
MarketBeat Ratings highlights the Tema Space Innovators ETF, trading on the NYSEARCA as NASA, as down 38% from its May peak.
The ETF debuted on March 31 and is designed to give exposure to the space economy, which the article says is forecast to nearly triple from $630 billion in 2023 to $1.79 trillion by 2035.
Despite industry growth projections, the article attributes weak results to the fund’s concentration in highly volatile, pre profit companies, listing SpaceX, AST SpaceMobile, Rocket Lab, and Viasat among its holdings.
MarketBeat Ratings also notes growth expectations for segments like space launch services and space tourism, while pointing to industry headwinds and burdensome capital expenditure as factors clouding the near and medium term outlook.