Cathie Wood Just Bought the Dip in SpaceX Stock. Should You?
Yahoo Finance ·
Ark Invest CEO Cathie Wood has once again placed an aggressive bet on a company led by Elon Musk. On June 12, Wood's investment firm bought 3.3 million shares in the Space Exploration Technologies ( SPCX 1.01% ) IPO across several of the firm's exchange-traded funds (ETFs). Just 10 days later, Ark added another 210,121 shares across the Ark Innovation ( ARKK +0.05% ) , Ark Autonomous Technology & Robotics ( ARKQ 1.83% ) , Ark Next Generation Internet ( ARKW 1.58% ) , and Ark Space & Defense Innovation ( ARKX 1.89% ) funds as SpaceX stock lost some momentum . These purchases reflect Wood's signature style of doubling down on long-term technological disruption during periods of short-term weakness. Let's see whether smart investors should follow Wood's lead and buy the dip in SpaceX stock right now. SpaceX now appears across four of Ark's ETFs. On June 12, ARKK acquired 1,690,839 shares, ARKQ bought 736,442 shares, ARKW added 325,562 shares, and ARKX purchased 538,341 shares. On June 22, the buying continued across all four of these funds.
DYAX Investor Sentiment
Bullish (Long) 50% · Bearish (Short) 50%
464 participants
Related News
- KBR appoints leadership team for planned $5B Mission Technology spin-off
- REalloys to raise $100M through private placement of common stock
- McCormick Non-GAAP EPS of $0.80 beats by $0.10, revenue of $1.94B beats by $30M
- IBM surges after unveiling new sub-1 nm chip technology
- PJM to add new power supply warning as AI data center demand surges
- EV disruption: Slate Auto preps for its bare-bones $25K electric pickup launch