UFO ETF (UFO) is trading 5.2% up today as investors react to reports that SpaceX has filed for an IPO at a potential multi-trillion-dollar valuation.
- The news has triggered a broad rally across listed space and satellite companies that comprise the fund's underlying index.
- UFO is significantly outperforming major indices, driven by anticipated halo effects and the prospect of future index inclusion for SpaceX once it becomes public.
- The move reflects a sector-specific surge as the market anticipates a valuation re-rating for the space industry following the massive valuation target for the private giant.