Cathie Wood’s firm increases stakes in SpaceX and other space stocks as SpaceX shares fall over 50% from recent highs.
ARK Invest, led by Cathie Wood, purchased millions of shares in SpaceX, Rocket Lab, Kratos Defense, and Intuitive Machines on Tuesday. The firm also added to its Tesla position amid a broader space-sector pullback. SpaceX stock has dropped more than 50% from its peak following its recent public debut, reflecting investor caution in the sector.
The buys coincide with SpaceX preparing for a classified U.S. Space Force mission set for Thursday. SpaceX remains a key player in commercial space launches, though its valuation has faced scrutiny post-IPO. ARK’s move aligns with its strategy of targeting high-growth, disruptive industries despite near-term volatility.
No immediate market reaction was reported following the disclosure of ARK’s purchases.