BUZZ-Space stocks rise as Donald Trump takes office

Reuters01-21

** Shares of space companies Planet Labs PL.N, Satellogic SATL.O, Rocket Lab USA RKLB.O, Redwire Corp RDW.N up between 7.8% and 17% in early trading

** The space sector is likely to receive a boost from SpaceX CEO Elon Musk's influence over the Donald Trump administration and the move to tap billionaire entrepreneur and private astronaut Jared Isaacman to lead NASA

** If confirmed, the Shift4 Payments FOUR.N founder and CEO will oversee the space administration's $25 billion budget and future missions

** Space-focused ETF ARK Space Exploration & Innovation ETF ARKX.Z rose about 28% in 2024

(Reporting by Akash Sriram in Bengaluru)

((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))

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