Trimble (NASDAQ:TRMB) could be about to blast off as the Ark Space Exploration ETF (BATS:ARKX) from Ark Invest starts trading. That is because the company is the new fund’s top holding — giving it a heavy endorsement from market influencer Cathie Wood. So with this upcoming catalyst in mind, what do you need to know about TRMB stock?
To start, investors should know that the ARKX ETF is a first-of-its-kind fund focused on space exploration companies. It is also the first new exchange-traded fund from Wood in two years, upping the allure ahead of its release date. Because many retail investors consider Wood a market guru thanks to her early bets on Tesla (NASDAQ:TSLA) and Bitcoin (CCC:BTC), the new ETF holds great appeal.
Today, investors finally got a closer look at that ETF and its holdings. With Trimble taking the top spot, here is what you need to know about TRMB stock:
- Charlie Trimble helped found Trimble in 1978, and the company calls Sunnyvale, California home.
- Since then, the company has claimed more than 2,000 patents for a wide variety of technological advancements.
- These advancements touch many industries, including agriculture, geospatial, construction, civil engineering, forestry and rail.
- More specifically, Trimble touts itself as a leader in positioning, modeling, connectivity and data analytics.
- Investors should note that these solutions are in use in more than 150 countries.
- Additionally, Trimble has offices in 40 countries. This list includes Brazil, Russia, China and Switzerland.
- Trimble has also fueled its growth through acquiring relevant businesses. These include Applanix, Cityworks and MyTopo.
- Cathie Wood is no stranger to Trimble.
- She has included the company in her other funds, and TRMB stock is in the rival Procure Space ETF (NASDAQ:UFO).
- It takes the top spot in the ARKX ETF with an 8.47% weighting.
TRMB Stock and the ARKX ETF Launch
So what else should investors know about Trimble and TRMB stock now?
Perhaps one of the biggest takeaways is that Wood surprised investors with the ARKX ETF top holdings. Many were hoping for emerging space companies like Momentus (NASDAQ:SRAC) to take top spots. Virgin Galactic (NYSE:SPCE), a retail favorite, claims less than 2% of the portfolio. On the flipside, less familiar companies like Trimble get top billings, and tech giants like Tencent (OTCMKTS:TCEHY) also get weighting.
However, other fund managers and analysts were not surprised by the TRMB stock choice. Wood has included it in the Ark Autonomous Technology & Robotics (BATS:ARKQ) ETF before. Plus, the company has a water management software that uses satellites to help farmers. For Wood, this could be a play on enabling space technologies that her ARKX ETF focuses on.
With the Space Exploration ETF set to start trading on Tuesday, keep a close eye on Trimble. Shares could get a rocket-sized boost.
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 InvestorPlace.com.