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HOL Stock: Why Space SPAC Holicity Rocketed Higher Today

Today, NASA made history. It also created a compelling catalyst in Holicity (NASDAQ:HOL), a space-focused special purpose acquisition company. HOL stock closed higher by nearly 9%, as investors anticipate the Astra SPAC merger.

Image of space shuttle blasting off against starry backdrop, smoke plumes underneath shuttle.

Source: Shutterstock

So what do you need to know? Essentially, Holicity is a blank-check company that is bringing Astra public through a reverse merger. Astra, relevant to news today, is a startup that makes small rockets to help get satellites into orbit. This means it is yet another play in what experts are calling Space Race 2.0. It, like more popular names SpaceX and Blue Origin, want to usher in a new era of space exploration and discovery. To do this, Astra and its peers must make space more accessible by improving technology and reducing costs. If they can do this, something like a colony on Mars could one day be possible.

This space dream is why HOL stock was on the move today.

What do I mean? Well, it appears that Holicity was a big beneficiary of the NASA victory. Making history, the space agency landed the Perseverance rover on Mars. Now that it has stuck its landing in the Jezero Crater, the rover will be looking for ancient life like microfossils. For those unfamiliar, Jezero Crater was a lake on Mars… about 3.5 billion years ago. As scientists continue to pursue futuristic concepts like a colony on Mars, the work of the Perseverance rover is critical. And the landing speaks to the advancements in the industry that have happened in recent years and decades.

Those advancements have investors looking for ways to profit, and HOL stock stands out. Once the merger closes, it will be the first publicly traded space launch company. It also already counts NASA and the U.S. Department of Defense as its customers.

HOL Stock and the Astra SPAC Merger

So what else do you need to know about HOL stock and the Astra SPAC merger? Perhaps the biggest thing is that the opportunity in space stocks is not slowing down. In fact, with the recent Mars success, many social media users are speculating on what is to come for Astra. The consensus is that the company will be a good fit for ARKX, a space-focused exchange-traded fund from Ark Invest. Cathie Wood, who runs the fund, is betting big on space exploration. Investors want HOL to ride that Ark-fueled wave.

Keep an eye on HOL stock. Although it is down slightly in after-hours trading, this company is in a red-hot sector. The Perseverance landing looks to be just the first step in an exciting race, and investors do not want to miss out.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Sarah Smith is a Web Content Producer with 

Article printed from InvestorPlace Media,

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