Cathie Wood Likes That New Stock Smell: 3 IPO Stocks She Bought on Monday
Yahoo Finance ·
Cathie Wood didn't let last week's holiday-abridged run lull her into slumber. She was actively making moves for her Ark Invest ETFs on Monday. She made a few sells, but let's talk about Ark's purchases. Ark's co-founder, CEO, and chief investment officer continues to add to her Space Exploration Technologies ( SPCX 5.60% ) position. She also expanded her stakes in Generate Biomedicines ( GENB 0.35% ) and Bullish ( BLSH 2.35% ) on Monday. All three stocks have gone public over the past year. Let's take a closer look at Wood's latest moves. Almost a month after its widely followed IPO, SpaceX stock is back to where it was after its first day of trading. On the one hand, SpaceX is currently 19% above its $135 IPO price. On the other hand, the shares are nearly 30% below the peak they set on their third day of trading. SpaceX joins the Nasdaq-100 index on Tuesday, and that move should drive billions of dollars in passive buying among index-tracking mutual funds and ETFs. It's not a sustainable bullish catalyst, but it should provide some support to what has been a volatile stock in its brief run as a public company.
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