If we break the rally into the Eliot impulse wave we can see : 1 Stage: The first rally started on Nov 2nd after it bottomed down to 21.10$ and went up 9.6% to 23.13. which tells us the space stocks started rallying before the ARK X official announcement and is probably related to Cathie Wood mentioning it in a previous interview and also smart money getting in first on the move. 2nd Stage: Went up 11.5% (25.84$) in mid-Nov to mid-Dec, in a 3rd wave in the impulse wave (3rd waves tend to be the longest ones), followed by a fourth wave -correction wave that tends to be the stronger one of the two(2,4), price traded lower (24.87$). 3rd Stage: Price rose 5.8% (27.40$), News of ARK X the space ETF came out.
TOTAL MOVE is 30% in about 2 months The ETF has finished its first impulse wave and we will see more upside in the upcoming months a lot of it because of ARK’s announcement and the simplest way to enjoy the space stock rally would be to hold this ETF until ARKX is public and tradeable.